Shree Cement gains on commencement of new cement grinding unit

The stock has moved higher by 4% to Rs 17,550 on BSE in noon deal after the company announced that it has commissioned new cement grinding unit in Rajasthan.

Shree Cement has moved higher by 4% to Rs 17,550 on BSE in noon deal after the company announced that it has commissioned new cement grinding unit in Rajasthan.

“The Company has commissioned new cement grinding unit (namely Bangur Cement Unit) having capacity of 3.60 MTPA at Village Rohi Udaipur Udasar, District Sriganganagar in Rajasthan,” Shree Cement said in a regulatory filing.

Since January 11, post December 2017 quarter (Q3FY18) results, the stock of Shree Cement had underperformed the market by falling 14%, as compared to 0.06% rise in the S&P BSE Sensex.

The company recorded a