Mangalam Cement

The daily chart indicates a multiple-pattern bullish breakout for Mangalam Cement

Barring HeidelbergCement most of the cement stocks look technically weak on the charts; Ambuja Cements is on the verge of seeing a 'Death Cross' formation on the daily chart.

Mangalam Cement Ltd on Saturday reported a multi-fold jump in its net profit to Rs 15.95 crore for the quarter ended in December 2023. The company had posted a profit of Rs 0.52 crore in the October-December quarter a year ago, according to a regulatory filing. Its revenue from operations was up 2.38 per cent to Rs 439.43 crore during the quarter under review against Rs 429.19 crore in the year-ago period. Total expenses in the December quarter were down 5.3 per cent to Rs 418.06 crore against Rs 441.50 crore in the third quarter of FY23.

Shares of Mangalam Cement hit a new high of Rs 694.40 as they surged 16 per cent on the BSE in Friday's intraday trade

The company reported a net profit of Rs 33 crore for June quarter against net loss of Rs 15 crore registered in the year- ago quarter.

The company has only one business segment which is cement