JK Cement surges 11 per cent on Q4 results, expansion plans
DSIJ Intelligence / 15 May 2017
.jpg)
Cement major, JK Cement, surged 11 per cent to a record high of Rs 1,194 per share in early trade on BSE on May 15, 2017 taking cues from the strong growth of 30 per cent in the standalone net profit of the company for the fourth quarter of FY17.
Cement major, JK Cement, surged 11 per cent to a record high of Rs 1,194 per share in early trade on BSE on May 15, 2017 taking cues from the strong growth of 30 per cent in the standalone net profit of the company for the fourth quarter of FY17.
The company reported its net profit as Rs 91 crore for Q4FY17 up from Rs 70 crore in the same period in the previous year.
The net sales of the company was reported as Rs 1,019 crore for the fourth quarter, up by 7.7 per cent from Rs 946 crore in the same quarter of FY16.
While the company has plans to expand its ‘wall putty’ production capacity, from 2 lakh MT to 4 lakh MT per annum at the company’s Katni unit, the company also reported a rise in clinker production capacity by 3.30 lakh tons per year in the company’s Rajasthan unit.
The board of the company has recommended a dividend of Rs 8 per equity share for the fiscal year ended in March, 2017.
At 10:30 hrs IST, the stock traded at Rs 1,125 on BSE, up by 4.96 per cent on the BSE on May 15, 2017.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.