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India Cements gains after reporting strong Q4 results

Capital Market 

Cements gained 4.61% to Rs 93.05 at 14:40 on after net profit rose 39.91% to Rs 51.21 crore on 10.64% rise in total income to Rs 1154.14 crore in Q4 March 2016 over Q4 March 2015.

The result was announced during market hours today, 26 May 2016.

Meanwhile, the S&P Sensex was up 290.69 points or 1.12% at 26,176.88.

Huge volumes were witnessed on the counter. On BSE, so far 11.97 lakh shares were traded in the counter as against average daily volume of 3.73 lakh shares in the past one quarter. The stock hit high of Rs 93.30 and low of Rs 88.60 so far during the day.The stock had hit a 52-week high of Rs 102.70 on 5 January 2016. The stock had hit a 52-week low of Rs 63.60 on 25 August 2015. The stock had underperformed the market over the past one month till 25 May 2016, gaining 0.11% compared with 0.79% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 32.46% as against Sensex's 12.64% rise.

The mid-cap company has equity capital of Rs 307.18 crore. Face value per share is Rs 10.

Cements said that consequent to hiving off the franchise of IPL, the figures of Q4 March 2016 are not comparable with those of Q4 March 2015.

Cements is one of the largest producers of cement in South India.

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First Published: Thu, May 26 2016. 14:36 IST