Orient Cement drops after poor Q2 outcome

Orient Cement lost 2.56% to Rs 38 at 15:18 IST on BSE after net profit fell 60.52% to Rs 14.45 crore on 9.45% decline in total income from operations to Rs 322.29 crore in Q2 September 2013 over Q2 September 2012.

The Q2 result was announced during trading hours today, 25 October 2013.

Meanwhile, the S&P BSE Sensex was down 20.44 points or 0.1% at 20,704.99.

On BSE, 4,364 shares were traded in the counter as against average daily volume of 48,016 shares in the past one quarter.

The stock hit a high of Rs 41.75 and a low of Rs 37.95 so far during the day. The stock had hit a record low of Rs 29.60 on 31 July 2013. The stock had hit a record high of Rs 60 on 12 July 2013.

The stock had outperformed the market over the past one month till 24 October 2013, surging 7.59% compared with Sensex's 4.04% gain. The scrip had, however, underperformed the market over the past one quarter, declining 11.36% as against Sensex's 3.16% rise.

The small-cap company has equity capital of Rs 20.49 crore. Face value per share is Re 1.

Orient Cement is a cement manufacturer catering to its varied customers placed across the country.

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