HeidelbergCement India hardens after strong Q4 results

HeidelbergCement India gained 3.13% to Rs 128.60 at 14:10 IST on BSE after net profit rose 49.25% to Rs 37.03 crore on 14.05% rise in total income to Rs 542.38 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 25 May 2017.

The stock had risen 3.49% to Rs 124.70 yesterday, 25 May 2017 ahead of the results.

Meanwhile, the S&P BSE Sensex was up 245.97 points or 0.8% at 30,996. The S&P Small-Cap index was up 209.96 points or 1.41% at 15,058.69.

On the BSE, 62,676 shares were traded in the counter so far as against average daily volume of 69,326 shares in the past one quarter.

The stock had hit a high of Rs 130.65 and a low of Rs 126.50 so far during the day. The stock had hit a 52-week high of Rs 150.55 on 28 October 2016. The stock had hit a 52-week low of Rs 94.25 on 25 May 2016. The stock had underperformed the market over the past one month till 25 May 2017, dropping 7.53% compared with 2.69% rise in the Sensex. The scrip, had, however, outperformed the market in past one quarter, gaining 7.36% as against Sensex's 6.43% rise.

The small-cap cement manufacturing company has equity capital of Rs 226.62 crore. Face value per share is Rs 10.

HeidelbergCement India said that the board of directors recommended a dividend of Rs 2 per share for the financial year ended 31 March 2017 (FY 2017).

HeidelbergCement India is a subsidiary of HeidelbergCement Group, Germany. The company has its operations in Central India at Damoh (Madhya Pradesh), Jhansi (Uttar Pradesh) and in Southern India at Ammasandra (Karnataka).

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