Somany Ceramics nudges higher after completing expansion of plant in Haryana

Somany Ceramics rose 1.06% to Rs 382.10 at 15:18 IST on BSE after the company said it has completed the expansion of its Kassar plant (Bahadurgarh) in Haryana and commenced commercial production from 28 March 2016.

The announcement was made during market hours today, 29 March 2016.

Meanwhile, the S&P BSE Sensex was down 72.48 points or 0.29% at 24,893.92.

On BSE, so far 3,157 shares were traded in the counter as against average daily volume of 3,038 shares in the past one quarter. The stock hit a high of Rs 388.70 and a low of Rs 374 so far during the day. The stock had hit a record high of Rs 499.90 on 22 April 2015. The stock had hit a 52-week low of Rs 303.50 on 25 August 2015.

The small-cap company has equity capital of Rs 8.48 crore. Face value per share is Rs 2.

Somany Ceramics said that it has successfully completed the expansion of its Kassar plant (Bahadurgarh) in Haryana to produce 4 million square meters of glazed vitrified tiles annually and commercial production has commenced from 28 March 2016, ahead of its scheduled timeline in Q1 June 2016. The total capacity of the manufacturing of Kassar (Bahadurgarh) plant post expansion has become 17.13 million square meters per annum, Somany Ceramics said.

Somany Ceramics' net profit rose 25.8% to Rs 13.86 crore on 10.7% growth in net sales to Rs 413.08 crore in Q3 December 2015 over Q3 December 2014.

Somany Ceramics is a manufacturer of ceramic tiles and allied products.

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