Sagar Cements lost 5.24% to Rs 744.70 at 11:52 IST on BSE after consolidated net profit dropped 41.62% to Rs 5.82 crore on 5.52% rise in total income to Rs 275.44 crore in Q1 June 2018 over Q1 June 2017.
The result was announced after market hours yesterday, 19 July 2018.Meanwhile, the S&P BSE Sensex was up 164.87 points, or 0.45% to 36,516.10
On the BSE, 629 shares were traded in the counter so far compared with average daily volumes of 5,555 shares in the past two weeks. The stock had hit a high of Rs 779.15 and a low of Rs 733.60 so far during the day. The stock hit a record high of Rs 1,161.40 on 4 January 2018. The stock hit a 52-week low of Rs 750.10 on 19 July 2018.
Sreekanth Reddy, Executive Director, Sagar Cements said that going forward, demand situation is expected to remain steady on the back of government's focus on developing infrastructure and affordable housing segment.
Sagar Cements is engaged in manufacturing cement at its plant in Mattampally, Nalgonda district, Andhra Pradesh.
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