Gujarat Sidhee Cement gallops on getting environmental clearance

Gujarat Sidhee Cement jumped 12.03% to Rs 34 at 15:18 IST after the company received clearance for mining of limestone from Ministry of Environment & Forest and restored normal operations at the company's plant.

The announcement was made during market hours today, 24 November 2014.

Meanwhile, the S&P BSE Sensex was up 195.20 points or 0.69% at 28,529.83

On BSE, so far 6.64 lakh shares were traded in the counter as against average daily volume of 1.01 lakh shares in the past one quarter.

The stock hit a high of Rs 35.50 and a low of Rs 29.55 so far during the day. The stock had hit a 52-week high of Rs 46.40 on 26 August 2014. The stock had hit a 52-week low of Rs 12.30 on 17 February 2014.

The stock had underperformed the market over the past one month till 21 November 2014, falling 6.47% compared with the Sensex's 6.62% rise. The scrip also underperformed the market in past one quarter, sliding 24.31% as against Sensex's 7.49% rise.

The small-cap cement manufacturer has equity capital of Rs 41.15 crore. Face value per share is Rs 10.

Gujarat Sidhee Cement reported net loss of Rs 9.84 crore in Q2 September 2014, higher than net loss of Rs 6.17 crore in Q2 September 2014. Net sales rose 48.2% to Rs 130.07 crore in Q2 September 2014 over Q2 September 2013.

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