Prism Cement surged 7.45% to Rs 75.70 at 14:01 IST on BSE after 2.46% equity changed hands in two bulk deals on BSE today, 9 June 2014.
A bulk deal of 57.23 lakh shares was executed on the Prism Cement scrip at Rs 71.50 per share at 09:42 IST on BSE today, 9 June 2014. Another bulk deal of 67.18 lakh shares was executed on the scrip at Rs 72.55 per share at 09:43 IST on BSE today, 9 June 2014.
Meanwhile, the BSE Sensex was up 191.98 points, or 0.76%, to 25,588.44
Bulk deals boosted volume on the Prism Cement counter. On BSE, so far 1.38 crore shares were traded in the counter, compared with an average volume of 2.66 lakh shares in the past one quarter.
The stock hit a 52-week high of Rs 79.40 in intraday trade today, 9 June 2014. The stock hit a low of Rs 69.90 so far during the day. The stock hit a 52-week low of Rs 22.80 on 14 February 2014.
The stock had outperformed the market over the past one month till 6 June 2014, rising 53.65% compared with the Sensex's 12.83% rise. The scrip had also outperformed the market in past one quarter, gaining 148.5% as against Sensex's 18.05% rise.
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The small-cap company has an equity capital of Rs 503.36 crore. Face value per share is Rs 10.
Prism Cement during trading hours today, 9 June 2014 said that Prism Trust has sold its entire holding of 1.23 crore equity shares or 2.45% stake held in the company. The company is the beneficiary of the Trust. The Prism Trust, which was formed in March 2010, was created after the merger of erstwhile H. & R. Johnson (India) and erstwhile RMC Readymix (India) with the company. The Trust will realise approximately Rs 88 crore, at an average price of about Rs 71.50 per share, Prism Cement said.
Prism Cement's net profit fell 23% to Rs 11 crore on 10.3% increase in total income to Rs 1528.18 crore in Q4 March 2014 over Q4 March 2013.
Prism Cement is an integrated building materials company, with a wide range of products from cement, ready-mixed concrete, tiles, bath products to kitchens. The company has three divisions, viz. Prism Cement, H & R Johnson (India) and RMC Readymix (India).
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