Prism Cement

Till 1:24 PM, average trading volume on the counter jumped nearly 10-fold today with nearly 78.55 million equity shares, representing 15.6 per cent of total equity of Prism Johnson, changing hands

Prism Johnson's share price rallied 5.69 per cent at Rs 170.70 per share on the BSE in Friday's intraday trade

The company will also transfer a mining lease granted by the government over to Ramco Cements for an area of 663.46 hectares

Rating agencies expect the profitability of PJL's to improve in FY24 owing to softening in input procurement costs coupled with cost savings

Q2FY22 is generally a weak quarter for cement makers due to monsoon, but the quarter under preview has also been affected by rising coal and pet coke prices and a transporters' strike

The stock surges 6% to Rs 124 on BSE in intra-day trade

The company received LoI from MP government for allotment of cement grade limestone mining lease.

The company has successfully bid for 120,000 tonnes per annum of coal from South Eastern Coalfields in a recently held auction of coal linkages for the cement industry.

The company plans to acquire 15.23% stake in BLA Power Private Ltd for Rs 21 crore