India Cements lost 3.86% to Rs 90.80 at 09:55 IST on BSE, with the stock declining on profit booking after gaining 11.84% in the preceding two trading days.
Meanwhile, the S&P BSE Sensex was down 481.13 points or 1.73% at 27,329.24
On BSE, so far 2.25 lakh shares were traded in the counter as against average daily volume of 2.86 lakh shares in the past one quarter.
The stock hit a high of Rs 93 and a low of Rs 89 so far during the day. The stock had hit a 52-week high of Rs 134.30 on 22 September 2014. The stock had hit a 52-week low of Rs 73.15 on 19 December 2014.
The stock had outperformed the market over the past one month till 26 June 2015, rising 6.24% compared with 1.02% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 8% as against Sensex's 1.29% rise.
The small-cap company has equity capital of Rs 307.18 crore. Face value per share is Rs 10.
Shares of India Cements had gained 11.84% in two trading days to Rs 94.45 on 26 June 2015 from a recent low of Rs 84.45 on 24 June 2015. The gains were triggered by Derive Investments buying 20.71 lakh shares, or 0.67% stake in India Cements in a bulk deal on NSE at an average price of Rs 86.61 per share on 25 June 2015. On the same day, Derive Investments sold 1,580 shares in a bulk deal on NSE at an average price of Rs 86.55 per share. Derive Investments is an investment company run by Radhakishan Damani who is known for his stock picks.
India Cements reported net profit of Rs 36.60 crore in Q4 March 2015 as compared to net loss of Rs 157.12 crore in Q4 March 2014. Total income fell 7.3% to Rs 1043.10 crore in Q4 March 2015 over in Q4 March 2014.
India Cements is the largest producer of cement in South India.
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