Sanghi Industries jumps after installing new cement grinding mill

Sanghi Industries jumped 6.42% to Rs 55.50 at 11:00 IST on BSE after it has installed the new cement grinding mill having capacity of 1.2 million metric tonne per annum at the company's plant located at Sanghipuram, Kutch District.

The announcement was made after market hours yesterday, 2 July 2015.

Meanwhile, the BSE Sensex was up 143.21 points, or 0.51%, to 28,089.01.

On BSE, so far 6,779 shares were traded in the counter, compared with an average volume of 1.74 lakh shares in the past one quarter.

The stock hit a high of Rs 56 and low of Rs 52.65 so far during the day. The stock hit a 52-week high of Rs 69.75 on 30 January 2015. The stock hit a 52-week low of Rs 24.90 on 14 February 2014.

The stock had underperformed the market over the past one month till 2 July 2015, falling 6.29% compared with 2.79% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 10.47% as against Sensex's 1.11% decline.

The mid-cap stock has an equity capital of Rs 219.98 crore. Face value per share is Rs 10.

Sanghi Industries announced that it has installed the new cement grinding mill having capacity of 1.2 million metric tonne per annum (MMTPA) at the company's plant located at Sanghipuram, Kutch District, taking the total capacity to 4.1 MMTPA. The company proposes to commence work on installation of 15 megawatts (MW) waste heat recovery system (WHRS) in the company's main plant.

Further, the company has informed that the Chief Minister of Gujarat, Anandiben Patel has consented to inaugurate new cement grinding mill & lay the foundation stone for WHRS on 10 July 2015.

Sanghi Industries reported 13.7% decline in net profit to Rs 21.72 crore on 13.8% fall in total income to Rs 286.44 crore in Q4 March 2015 over Q4 March 2014.

Sanghi Industries is the flagship company of The Ravi Sanghi Group dealing in the production and distribution of cement under the Brand Name "Sanghi Cement".

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