Mangalam Cement hardens after solid Q1 performance

Mangalam Cement hit an upper circuit of 19.99% to Rs 263.25 at 12:05 IST on BSE after a net profit of Rs 33.22 crore in Q1 June 2019 compared with a net loss of Rs 15.32 crore in Q1 June 2018.

Net sales surged 30.8% to Rs 333.16 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 5 August 2019.

Meanwhile, S&P BSE Sensex was up 148.05 points or 0.40% at 36,847.89.

On BSE, 2,703 shares were traded in Mangalam Cement counter, compared to a 2-week average of 677 shares. The stock hit an intraday high of Rs 263.25 and an intraday low of Rs 223. It hit a 52-week high of Rs 288 on 8 May 2019 and a 52-week low of Rs 174 on 29 October 2018.

Mangalam Cement is a cement manufacturing company. The company has its cement and coal-based power plant at Adityanagar, Kota district (Rajasthan) and wind power at Jaisalmer district (Rajasthan).

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