DCM Shriram surged 4.76% to Rs 360 after the company said it commissioned 200 kilo litres per day (KLD) distillery at Ajbapur in Uttar Pradesh on 3 December 2019.
The total capacity of the company's distillery after the said commissioning now stands at 350 KLD. The announcement was made during market hours today.
On the BSE, 53,000 shares were traded in the counter so far which is nearly 4 times its 2-week daily average volumes of 14,000 shares. The stock trades below its 50 and 200 days simple moving averages placed at 365.86 and 430.8 respectively.
On the technical front, the stock's RSI (relative strength index) stood at 57.905. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
DCM Shriram's consolidated net profit fell 29.5% to Rs 118.94 crore on 2.9% increase in net sales to Rs 1,744.90 crore in Q2 September 2019 over Q2 September 2018.
DCM Shriram is engaged in the business of fertilizer, sugar and caustic soda.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app