Shree Cement turns volatile after Q2 results

Shree Cement was down 3.65% to Rs 16,185 at 15:17 IST on BSE amid volatility after net profit rose 18.32% to Rs 291.50 crore on 18.2% growth in total income to Rs 2377.30 crore in Q2 September 2016 over Q2 September 2015.

The result was announced during market hours today, 7 November 2016.

Meanwhile, the S&P BSE Sensex was up 202.19 points or 0.74% at 27,476.34.

On BSE, so far 2,441 shares were traded in the counter as against average daily volume of 658 shares in the past one quarter. The stock was volatile. The stock lost as much as 5.19% at the day's low of Rs 15,926.70 so far during the day. The stock rose as much as 2.68% at the day's high of Rs 17,250 so far during the day. The stock had hit a record high of Rs 18,519 on 3 October 2016. The stock had hit a 52-week low of Rs 9,350 on 15 January 2016. The stock had underperformed the market over the past one month till 4 November 2016, sliding 4.98% compared with 3.74% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, advancing 1.19% as against Sensex's 1.59% fall.

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

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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