Shree Cement declines after weak Q4 earnings

Shree Cement fell 3.57% to Rs 19,233.25 at 10:01 IST on BSE after net profit fell 54.1% to Rs 304.51 crore on 19.1% increase in net sales to Rs 2380.26 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 16 May 2017.

Meanwhile, the S&P BSE Sensex was down 37.27 points, or 0.12% at 30,619.87.

On the BSE, 890 shares were traded on the counter so far as against the average daily volumes of 1,215 shares in the past one quarter. The stock had hit a high of Rs 19,647.20 and a low of Rs 18,654 so far during the day.

The stock had hit a record high of Rs 20,560 on 15 May 2017 and a 52-week low of Rs 12,555 on 18 November 2016. The stock had outperformed the market over the past one month till 16 May 2017, advancing 12.87% compared with the Sensex's 3.81% rise. The scrip had also outperformed the market over the past one quarter advancing 30.15% as against the Sensex's 8.06% rise.

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

Shree Cement's board recommended final dividend of Rs 24 per equity share for the year ended 31 March 2017.

Shree Cement is focused on its core business of cement and power. Currently its manufacturing operations are spread over North and Eastern India.

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