Deccan Cements hardens on stock-split plan

Deccan Cements rose 2.46% to Rs 1,257 at 13:41 IST on BSE after the company scheduled a board meeting on 19 May 2017 to consider a proposal for sub-division of equity shares.

The announcement was made after market hours yesterday, 3 May 2017.

Meanwhile, the BSE Sensex was up 226.22 points, or 0.76%, to 30,121.02. The S&P BSE Small-Cap index was up 56.57 points or 0.37% at 15,487.53.

On BSE, so far 487 shares were traded in the counter, compared with an average volume of 1,116 shares in the past one quarter. The stock hit a high of Rs 1,260 and a low of Rs 1,235.10 so far during the day. The stock hit a record high of Rs 1,279.90 on 28 April 2017. The stock hit a 52-week low of Rs 666 on 4 May 2016.

The small-cap company has an equity capital of Rs 7 crore. Face value per share is Rs 10.

Deccan Cements' net profit jumped 76.32% to Rs 11.02 crore on 3.83% rise in total income to Rs 130.73 crore in Q3 December 2016 over Q3 December 2015.

Deccan Cements, with a 2.3 million tones per annum plant, is a major producer of cement in South India, having been in the business of manufacturing and marketing of cement for over three decades.

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