Shree Cement declines after weak Q2 outcome

Shree Cement fell 3.82% to Rs 4,230 at 13:41 IST on BSE after net profit fell 46.89% to Rs 115.49 crore on 7.22% decline in total income to Rs 1328.03 crore in Q2 December 2013 over Q2 December 2012.

The result was announced during trading hours today, 27 January 2014.

Meanwhile, the BSE Sensex was down 329.71 points, or 1.56%, to 20,803.85.

On BSE, so far 1,838 shares were traded in the counter, compared with an average volume of 4,300 shares in the past one quarter.

The stock hit a high of Rs 4,335 and a low of Rs 4,100.10 so far during the day. The stock hit a record high of Rs 5,210 on 31 May 2013. The stock hit a 52-week low of Rs 3,412.65 on 28 August 2013.

The stock had outperformed the market over the past one month till 24 January 2014, rising 0.81% compared with the Sensex's 0.48% rise. The scrip had, however, underperformed the market in past one quarter, falling 1.52% as against Sensex's 1.97% rise.

The large-cap company has an equity capital of Rs 34.84 crore. Face value per share is Rs 10.

Shree Cement is present in the cement and power sector. The company's cement plants are located at Beawar, Ras, Khushkhera, Jobner (Jaipur) and Suratgarh in Rajasthan and Laksar (Roorkee) in Uttarakhand. It presently has a cement production capacity of 13.5 million tons per annum. Shree also has a power generation capacity of 570 megawatts with plants located in Rajasthan.

Powered by Capital Market - Live News