DCM Shriram rises after unit commissions 30 MW power plant

DCM Shriram rose 3.31% to Rs 463.65 at 11:07 IST on BSE after the company announced commissioning 30 megawatts power plant at DSCL Sugar Hariawan unit in Uttar Pradesh.

The announcement was made after market hours yesterday, 13 March 2019.

Meanwhile, the S&P BSE Sensex was up 58.49 points, or 0.15% to 37,810.66.

On the BSE, 5682 shares were traded in the counter so far compared with average daily volumes of 22,000 shares in the past two weeks. The stock had hit a high of Rs 465.35 and a low of Rs 457.10 so far during the day. The stock hit a 52-week high of Rs 500 on 6 March 2019. The stock hit a 52-week low of Rs 222.55 on 16 May 2018.

DCM Shriram said it has commissioned 30 megawatts (MW) power plant (including 22.5 MW exportable) at DSCL Sugar Hariawan Unit. The company has started selling power to the Grid with effect from 28 February 2019.

On a consolidated basis, net profit of DCM Shriram rose 5.77% to Rs 225.65 crore on 19.17% rise in net sales to Rs 2106.47 crore in Q3 December 2018 over Q3 December 2017.

DCM Shriram's business portfolio comprises primarily of agri-rural business (urea & SSP fertilizers, sugar, Farm inputs marketing such as DAP, crop care chemicals, hybrid seeds); Chlor-Vinyl Business (caustic soda, chlorine,calcium carbide, PVC resins, PVC compounds, power and cement); and value added business (fenesta building systems).

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