Prism Cement gains after large bulk deal

Prism Cement rose 1.21% to Rs 138 at 11:39 IST on BSE after a large bulk deal of 11.95 lakh shares was executed on the scrip at Rs 137.75 per share at 11:14 IST on BSE.

Meanwhile, the BSE Sensex was up 22.57 points, or 0.07%, to 34,455.64. The BSE Mid-Cap index was up 87.91 points, or 0.49%, to 18,206.15.

Bulk deal boosted volume on the Prism Cement counter. On BSE, so far 13.92 lakh shares were traded in the counter, compared with an average volume of 1.14 lakh shares in the past two weeks. The stock hit a high of Rs 138.90 and a low of Rs 135.45 so far during the day. The stock hit a record high of Rs 145.10 on 5 January 2018. The stock hit a 52-week low of Rs 85.95 on 10 January 2017.

The mid-cap company has an equity capital of Rs 503.36 crore. Face value per share is Rs 10.

Prism Cement reported net loss of Rs 23.87 crore in Q2 September 2017, higher than net loss of Rs 21.27 crore in Q2 September 2016. Total income fell 0.8% to Rs 1183.37 crore in Q2 September 2017 over Q2 September 2016.

Prism Cement is an integrated building materials company, with a wide range of products from cement, ready-mixed concrete, tiles, bath products to kitchens. The company has three divisions, viz. Prism Cement, H & R Johnson (India) and RMC Readymix (India).

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