India Cements shares hit fresh 52-week high on posting 16% rise in Q1 net profit

By: | Updated: August 18, 2016 5:26 PM

India Cements shares surged as much as 5.35 per cent on Thursday after the company registered 16.35 per cent rise in net profit at Rs 43.98 crore for the quarter ended June 30, 2016 against Rs 37.80 crore in the corresponding quarter a year ago.

BSE Sensex NSE Nifty India CementsIndia Cements shares surged as much as 5.35 per cent on Thursday after the company registered 16.35 per cent rise in net profit at Rs 43.98 crore for the quarter ended June 30, 2016 against Rs 37.80 crore in the corresponding quarter a year ago. (Reuters)

India Cements shares surged as much as 5.35 per cent on Thursday after the company registered 16.35 per cent rise in net profit at Rs 43.98 crore for the quarter ended June 30, 2016 against Rs 37.80 crore in the corresponding quarter a year ago. However, net total income from operations of the company declined by 1.63 per cent to Rs 1,205.72 crore for the quarter under review against Rs 1,225.70 crore in the same quarter last year. At 1.20 pm, shares of India Cements were trading 3.58 per cent up at Rs 128.60. The scrip opened the day at Rs 124.50 and has touched a high and low of Rs 130.80 and Rs 124.50, respectively, in trade so far. Later, the scrip settled 1.17 per cent up at Rs 125.60.

Total expenses of the company fell to Rs 1052.24 crore for the quarter ended June 30, 2016 against Rs 1080.65 crore in the corresponding quarter a year ago.

Shares of the company hit their 52-week high of Rs 130.80 on Thursday (August 18, 2016). They had touched its 52-week low of Rs 63.60 on August 25 last year. In the past one year, shares of India Cements soard nearly 50 per cent to Rs 124.15 till August 17, 2016, whereas Sensex gained marginally 0.46 per cent during the same period.

Promoters hold around 28.63 per cent stake in India Cement, while public holds around 71.37 per cent stake in the company.

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