Shree Cement gains after completing expansion of grinding unit at Aurangabad

Shree Cement rose 1.15% to Rs 14,020.30 at 15:10 IST on BSE after the company said that it has completed the expansion of grinding unit at Aurangabad, Bihar from 2 mtpa to 3.6 mtpa today, 22 June 2016.

The announcement was made during market hours today, 22 June 2016.

Meanwhile, the BSE Sensex was down 58.03 points, or 0.22%, to 26,754.75.

High volume was witnessed on the counter. On BSE, so far 13,917 shares were traded in the counter, compared with an average volume of 1,288 shares in the past one quarter. The stock hit high of Rs 14,090.30 and low of Rs 13,796.20 so far during the day. The stock hit a record high of Rs 14,800 on 20 June 2016. The stock hit a 52-week low of Rs 9,350 on 15 January 2016. The stock had outperformed the market over the past one month till 21 June 2016, gaining 7.06% compared with the Sensex's 5.97% rise. The scrip had also outperformed the market in past one quarter, rising 10.07% as against Sensex's 6.04% rise.

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

Shree Cement's net profit rose 86.5% to Rs 223.34 crore on 28.2% increase in net sales to Rs 2017.41 crore in Q3 March 2016 over Q3 March 2015.

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

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