KCP jumps over 8% in two sessions

KCP rose 2.99% to Rs 94.70 at 14:09 IST on BSE, extending Friday's 5.27% rise triggered by the company's plan to expand production capacity of its cement unit located at Andhra Pradesh.

The announcement was made after market hours on Thursday, 9 June 2016. Shares of KCP rose 5.27% to Rs 91.95 on Friday, 10 June 2016. The stock has risen 8.41% in two sessions from its close of Rs 87.35 on Thursday, 9 June 2016.

Meanwhile, the BSE Sensex was down 249.63 points, or 0.94%, to 26,386.12.

On BSE, so far 2.48 lakh shares were traded in the counter, compared with an average volume of 31.80 lakh shares in the past one quarter. The stock hit a high of Rs 97.45 and a low of Rs 89.60 so far during the day. The stock hit a 52-week high of Rs 101.25 on 20 October 2015. The stock hit a 52-week low of Rs 58.40 on 29 June 2015. The stock had outperformed the market over the past one month till 10 June 2016, rising 16.69% compared with 3.28% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 34.33% as against Sensex's 7.76% rise.

The small-cap company has an equity capital of Rs 12.89 crore. Face value per share is Re 1.

KCP said it has decided to expand the production capacity of its cement unit located at Krishna district in Andhra Pradesh to 3.5 MTPA from 1.8 MTPA. The expansion will be carried out at estimated outlay of Rs 400 crore. The company did not mention how it intends to finance the expansion programme.

KCP reported net loss of Rs 1.75 crore in Q4 March 2016 compared with net profit of Rs 13.45 crore in Q4 March 2015. Net sales rose 14.5% to Rs 186.82 crore in Q4 March 2016 over Q4 March 2015.

KCP is engaged in two main business segments viz. cement and heavy engineering. It also has captive power plants.

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