Birla Corporation down 7%; stock hits 52-week low on growth worries

Shares of Birla Corporation slipped 7 per cent to hit a 52-week low of Rs 895.30 on the BSE in Thursday’s trade on growth concern. The management remained cautious over profitability of cement companies in the near future as it does not anticipate any relief in cost pressure. Birla Corporation is the flagship company of the MP Birla Croup.

At 02:55 pm; the stock traded 4 per cent lower at Rs 918.90, as compared to 2 per cent decline in the S&P BSE Sensex.
According to analysts at CRISIL, cement demand in India is expected to remain stable and