Kamdhenu shines after capacity expansion at Bhiwadi plant

Kamdhenu jumped 19.15% to Rs 210 at 11:09 IST on BSE after the company installed all requisite machinery for increase of capacity of steel plant at Bhiwadi, Rajasthan.

The announcement was made after market hours yesterday, 2 April 2019.

Meanwhile, the S&P BSE Sensex was up 163.07 points, or 0.42% at 39,219.72

On the BSE, 67,000 shares were traded on the counter so far as against the average daily volumes of 5,358 shares in the past two weeks. The stock had hit a high of Rs 211.50 and a low of Rs 189 so far during the day.

Kamdhenu said that the company has installed all requisite machinery for increase of capacity of steel plant at Bhiwadi, Rajasthan from 72000 MT to 156000 MT per annum. The company has completed commissioning of new plant and machinery and the enhanced production level will be achieved in due course as per stabilizing of entire machinery and new software.

Kamdhenu reported 32.45% rise in net profit to Rs 5.47 crore on 20.57% fall in net sales to Rs 242.30 crore in Q3 December 2018 over Q3 December 2017.

Kamdhenu, formerly Kamdhenu Ispat, is engaged in manufacturing, distribution, marketing, branding of steel and paints across India.

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