Madras Cements hits 52-week high

Stock up 1% at Rs254

Madras Cements gained 1% in opening trades and touched a yearly high at Rs 254 today. The southern cement company had an impressive Q3 earnings as compared to its peers like ACC and Ambuja.

Earlier this month, the company had reported a revenue growth of 18% when compared with a year before.

Today, the stock opened at Rs 253 and briefly touched the 52-week high, only to quickly slip and trade around the levels of Rs 252. Thus far, the stock has seen a low of Rs 251. A total of 29,000 shares were traded on the BSE and NSE.