India Cements advanced 10.56% to Rs 95.30 at 14:52 IST on BSE, after a fund run by independent investor Radhakishan Damani bought 0.67% stake in the company yesterday, 25 June 2015.
Meanwhile, the S&P BSE Sensex was down 97.76 points or 0.35% at 27,798.21
On BSE, so far 25.60 lakh shares were traded in the counter as against average daily volume of 2.44 lakh shares in the past one quarter.
The stock hit a high of Rs 97.20 and a low of Rs 89.85 so far during the day. The stock had hit a 52-week high of Rs 134.30 on 22 September 2014. The stock had hit a 52-week low of Rs 73.15 on 19 December 2014.
The stock had underperformed the market over the past one month till 25 June 2015, falling 4.17% compared with 0.91% rise in the Sensex. The scrip also underperformed the market in past one quarter, falling 6.1% as against Sensex's 0.77% fall.
The small-cap company has equity capital of Rs 307.18 crore. Face value per share is Rs 10.
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Derive Investments bought 20.71 lakh shares, or 0.67% stake in India Cements in a bulk deal on NSE at an average price of Rs 86.61 per share yesterday, 25 June 2015. On the same day, Derive Investments sold 1,580 shares in a bulk deal on NSE at an average price of Rs 86.55 per share. Shares of India Cements rose 2.07% at Rs 86.20 yesterday, 25 June 2015.
Derive Investments is an investment company run by Radhakishan Damani who is known for his stock picks.
India Cements reported net profit of Rs 36.60 crore in Q4 March 2015 as compared to net loss of Rs 157.12 crore in Q4 March 2014. Total income fell 7.3% to Rs 1043.10 crore in Q4 March 2015 over in Q4 March 2014.
India Cements is the largest producer of cement in South India. It has established brands viz. Sankar Super Power, Coromandel Super Power and Raasi Super Power.
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