Priyadarshini Cement

Price on 19/9/97: Rs 17.10

The scrip gained 17.84 per cent after cement major Gujarat Ambuja picked up a 4.97 per cent stake in the company. The cement major now holds 1.1 million equity shares in Priyadarshini. A south based company, it has a plant of 700,000 tonnes capacity at Nalgonda, Andhra Pradesh. Other than the fact that Gujarat Ambuja considers Priyadarshini good value for money, the company will also give it a foothold in the south where realisations are better than the rest of the country. For March 1997, Priyadarshini achieved sales of Rs 190.4 crore and a net profit of Rs 22.6 crore.