Profit booking halts dream run of Birla Corporation

Birla Corporation lost 1.25% to Rs 898.85 at 13:25 IST on BSE on profit booking after gaining 21.13% in the preceding eight trading sessions to settle at Rs 910.20 yesterday, 5 June 2017, from its close of Rs 751.45 on 24 May 2017.

Meanwhile, the S&P BSE Sensex was down 110.67 points or 0.35% at 31,198.82

On BSE, so far 3,151 shares were traded in the counter as against average daily volume of 4,912 shares in the past one quarter. The stock hit a high of Rs 925.55 in intraday trade so far, which is record high for the counter. The stock hit a high a low of Rs 897 so far during the day. The stock had hit a 52-week low of Rs 402.05 on 6 June 2016.

The stock had outperformed the market over the past one month till 5 June 2017, rising 18.18% compared with 4.86% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 32.08% as against Sensex's 7.97% rise. The scrip had also outperformed the market in past one year, surging 121.97% as against Sensex's 16.92% rise.

The mid-cap company has equity capital of Rs 77.01 crore. Face value per share is Rs 10.

Birla Corporation's net profit dropped 43.95% to Rs 59.15 crore on 5.76% growth in net sales to Rs 932.02 crore in Q4 March 2017 over Q4 March 2016.

Birla Corporation is primarily engaged in the manufacturing of cement as its core business activity. It has significant presence in the jute goods industry as well.

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