DCM Shriram lights up after commissioning additional captive power generation at plant

DCM Shriram rose 5.74% to Rs 231.15 at 10:30 IST on BSE after the company said that it has on 8 November 2016 commissioned additional captive power generation capacity at its chlor-alkali unit in Bharuch, Gujarat.

The announcement was made after market hours yesterday, 9 November 2016.

Meanwhile, the BSE Sensex was up 357.32 points, or 1.31%, to 27,609.85.

On BSE, so far 9,108 shares were traded in the counter, compared with an average volume of 35,871 shares in the past one quarter. The stock hit a high of Rs 245 and a low of Rs 227.30 so far during the day. The stock hit a record high of Rs 286.45 on 25 October 2016. The stock hit a 52-week low of Rs 107 on 12 February 2016. The stock outperformed the market over the past one month till 9 November 2016, rising 0.81% compared with the Sensex's 2.88% fall. The scrip however underperformed the market in past one quarter, declining 5.16% as against the Sensex's 2.96% decline.

The mid-cap company has an equity capital of Rs 32.48 crore. Face value per share is Rs 2.

DCM Shriram said that the total coal based captive power generation at the Bharuch, Gujarat unit now stands at 115 megawatts (MW). The increased power generation capacity will meet the power requirements of its chloro-alkali unit at Bharuch, Gujarat wherein the expansion of chlor-alkali capacity to 1,013 tonnes per day (TPD) was completed in October 2016.

On a consolidated basis, DCM Shriram's net profit rose 48% to Rs 91.50 crore on 4% drop in net sales to Rs 1358.63 crore in Q2 September 2016 over Q2 September 2015.

DCM Shriram's business portfolio comprises primarily of two types of businesses: agri-rural business and chlor-vinyl business.

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