Ambuja Cements rose 2.69% to Rs 164.25 at 11:09 IST on BSE after the company announced resumption of mining operations at Himachal Pradesh plants.
The company made the announcement during trading hours today, 25 February 2014.
Meanwhile, the BSE Sensex was up 46.08 points, or 0.22%, to 20,857.52.
On BSE, so far 59,000 shares were traded in the counter, compared with an average volume of 1.18 lakh shares in the past one quarter.
The stock hit a high of Rs 165.45 and a low of Rs 161.30 so far during the day. The stock hit a 52-week high of Rs 211.90 on 18 July 2013. The stock hit a 52-week low of Rs 147.55 on 28 August 2013.
The stock had underperformed the market over the past one month till 24 February 2014, sliding 2.20% compared with the Sensex's 1.52% fall. The scrip had also underperformed the market in past one quarter, falling 8.31% as against Sensex's 2.94% rise.
The large-cap company has an equity capital of Rs 309.17 crore. Face value per share is Rs 2.
Ambuja Cements announced that the High Court of Himachal Pradesh has granted a stay on the earlier order issued by the Ministry of Environment and Forest. Accordingly, mining operations at Himachal Pradesh plants will resume, the company said.
On 12 February 2014, Ambuja Cements announced that its mining operation in Himachal Pradesh was kept in abeyance following a notice from the Environment and Forest Ministry. However, the company had said that cement production remained unaffected with the help of available clinker inventory.
Ambuja Cements' net profit rose 49.3% to Rs 316.50 crore on 5.2% decline in total income to Rs 2297.62 crore in Q4 December 2013 over Q4 December 2012.
Ambuja Cements is engaged in manufacturing and marketing cement and clinker for both domestic and exports markets.
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