JK Cement gains as unit commences commercial production

JK Cement rose 1.28% to Rs 386.95 at 15:07 IST on BSE after the company said that its unit at Jharli, Haryana has commenced commercial production.

The announcement was made during trading hours today, 30 June 2014.

Meanwhile, the S&P BSE Sensex was up 329.05 points or 1.31% at 25,428.97

On BSE, so far 5,353 shares were traded in the counter as against average daily volume of 16,893 shares in the past one quarter.

The stock hit a high of Rs 391.45 and low of Rs 384 so far during the day. The stock hit 52-week low of Rs 418.80 on 19 June 2014. The stock hit a 52-week high of Rs 148.15 on 5 August 2013.

The stock had outperformed the market over the past one month till 27 June 2014, rising 13.71% compared with 2.24% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 70.41% as against Sensex's 12.99% rise.

The small-cap company has an equity capital of Rs 69.93 crore. Face value per share is Rs 10.

JK Cement said that the commercial production of the JK Cement Works, Jharli, a unit of the company having grey cement grinding capacity of 1.5 million ton per annum located at village Jharli, District Jhajjar, Haryana has commenced.

JK Cement's net profit surged 35.9% to Rs 76.38 crore on 8.6% growth in total income to Rs 847.14 crore in Q4 March 2014 over Q4 March 2013.

JK Cement is engaged in manufacturing and selling cement.

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