Gujarat Sidhee moves up after commissioning power plant

Gujarat Sidhee Cement rose 3.45% to Rs 33 at 9:25 IST on BSE after the company said that it has commissioned 5.5 megawatts waste heat recovery power plant with effect from 25 February 2018.

The announcement was made after market hours yesterday, 26 February 2018.

Meanwhile, the S&P BSE Sensex was up 149.21 points or 0.43% at 34,594.96. The S&P BSE Small-Cap index was up 95.22 points or 0.52% at 18,249.34, outperforming the Sensex.

On the BSE, 200 shares were traded in the counter so far as against average daily volume of 18,039 shares in the past one quarter. The stock had hit a high of Rs 33 and a low of Rs 32.80 so far during the day. The stock had hit a 52-week high of Rs 40.85 on 21 September 2017. The stock had hit a 52-week low of Rs 23.55 on 11 August 2017.

The stock had underperformed the market over the past one month till 26 February 2018, falling 8.46% compared with the Sensex's 4.45% drop. The scrip had also underperformed the market in past one quarter, sliding 9.89% as against Sensex's 2.28% rise. The scrip had also underperformed the market in past one year, gaining 18.59% as against Sensex's 19.22% rise.

The small-cap cement manufacturer has equity capital of Rs 86.15 crore. Face value per share is Rs 10.

Gujarat Sidhee Cement reported net profit of Rs 4.62 crore in Q3 December 2017 compared with net loss of Rs 4.35 crore in Q3 December 2016. Net sales rose 21.2% to Rs 128.42 crore in Q3 December 2017 over Q3 December 2016.

Gujarat Sidhee Cement is a Mehta Group company, marketing cement under the brand name of 'Sidhee'.

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