The Ramco Cements declines after weak Q3 outcome

The Ramco Cements fell 4.01% to Rs 337.30 at 13:55 IST on BSE after net profit fell 10.28% to Rs 22.96 crore on 6% decline in total income to Rs 817.77 crore in Q3 December 2014 over Q3 December 2013.

The result was announced during trading hours today, 5 February 2015.

Meanwhile, the BSE Sensex was up 283.98 points, or 0.98%, to 29,167.09.

On BSE, so far 55,000 shares were traded in the counter, compared with an average volume of 28,787 shares in the past one quarter.

The stock hit a high of Rs 363.35 and a low of Rs 328.50 so far during the day. The stock hit a record high of Rs 380 on 7 November 2014. The stock hit a 52-week low of Rs 159.05 on 5 February 2014.

The stock had underperformed the market over the past one month till 4 February 2015, rising 2.23% compared with 3.57% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 3.76% as against Sensex's 3.67% rise.

The mid-cap company has an equity capital of Rs 23.80 crore. Face value per share is Re 1.

The Ramco Cements said the cement production declined 8% and sales declined 9% in the nine months ended 31 December 2014, compared to the same period of the previous year. The company said that while it has increased its sales in Kerala and West Bengal, in all other states, where it has operations, viz. Tamil Nadu, Karnataka, Andhra Pradesh, Telengana and Odisha, the company has witnessed decline in sales due to slackness in demand for cement.

Chennai based The Ramco Cements (formerly Madras Cements) makes blended cement, ready-mix concrete and dry mortar mix. The company also generates power from windmills.

Powered by Capital Market - Live News