Sagar Cements gained 4.06% to Rs 856 at 09:30 IST on BSE after the company reported consolidated net profit of Rs 9.97 crore in Q1 June 2017 as compared with net loss of Rs 0.26 crore in Q1 June 2016.
The result was announced after market hours yesterday, 27 July 2017.Meanwhile, the S&P BSE Sensex was down 176.54 points, or 0.55% at 32,206.76. The S&P BSE Small-Cap index was down 10.81 points, 0.07% at 16,004.66.
On the BSE, 1,503 shares were traded on the counter so far as against the average daily volumes of 8,121 shares in the past one quarter. The stock had hit a high of Rs 885 and a low of Rs 845.25 so far during the day. The stock had hit a record high of Rs 940 on 16 May 2017 and hit a 52-week low of Rs 572.50 on 11 August 2016.
The small-cap company has equity capital of Rs 20.40 crore. Face value per share is Rs 10.
Sagar Cements said that the outlook remains positive on the expectation of normal monsoon, government's focus on infrastructure and affordable housing.
Commenting on the performance, Sreekanth Reddy, Executive Director, Sagar Cements, said the company benefitted from steady demand and better pricing environment in primary markets, with minimal disturbances surrounding GST implementation.
Sagar Cements is engaged in manufacturing of cement.
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