Sagar Cements drops after multiple bulk deals

Sagar Cements lost 4.47% to Rs 170 at 13:10 IST on BSE after three block deals aggregating 4.98 lakh shares were executed on BSE at Rs 170 per share.

Two block deals each of 1.75 lakh shares were executed at 11:03 IST while the third deal of 1.48 lakh shares was executed at 11:08 IST.

The block deals constitute 2.86% of Sagar Cements' equity.

Meanwhile, the S&P BSE Sensex was up 6.07 points or 0.03% at 19,787.95.

On BSE, 5 lakh shares were traded in the counter as against average daily volume of 635 shares over the past one quarter.

The stock hit a high of Rs 186.80 and a low of Rs 170 so far during the day. The stock had hit a 52-week low of Rs 155.05 on 6 August 2013. The stock had hit a 52-week high of Rs 304.65 on 1 January 2013.

The stock had outperformed the market over the past one month till 12 September 2013, surging 4.43% compared with the Sensex's 4.41% rise. The scrip had, however, underperformed the market in past one quarter, declining 11.58% as against Sensex's 3.89% rise.

The small-cap company has equity capital of Rs 17.39 crore. Face value per share is Rs 10.

Sagar Cements reported a net loss of Rs 4.69 crore in Q1 June 2013, as against net profit of Rs 4.12 crore in Q1 June 2012. Net sales declined 18.2% to Rs 122.96 crore in Q1 June 2013 over Q1 June 2012.

Sagar Cements is engaged in manufacture of cement at its plant in Andhra Pradesh.

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