Orient Cement rose 1.53% to Rs 159 at 12:45 IST on BSE after the company has commissioned and started commercial production at its new greenfield integrated cement plant from 26 September 2015.
The company made announcement during market hours today, 28 September 2015.
Meanwhile, the BSE Sensex was down 45.08 points, or 0.1%, to 25,817.64.
On BSE, so far 25,902 shares were traded in the counter, compared with an average volume of 9,712 shares in the past one quarter.
The stock hit a high of Rs 162.50 and a low of Rs 157.60 so far during the day. The stock hit a record high of Rs 200 on 22 January 2015. The stock hit a 52-week low of Rs 118 on 26 September 2014.
The stock had underperformed the market over the past one month till 24 September 2015, falling 4.8% compared with 0.47% rise in the Sensex. The scrip had also outperformed the market in past one quarter, dropping 6.67% as against Sensex's 6.73% fall.
The mid-cap company has an equity capital of Rs 20.49 crore. Face value per share is Re 1.
Orient Cement said the new project, located near Chittapur, District Gulbarga, Karnataka has an installed capacity of 3 million tonnes per annum (MTPA). With the commissioning of this new unit, the total installed capacity of Orient Cement has increased to 8 MTPA. The first consignment of cement from the new plant has been dispatched on 26 September 2015.
Orient Cement's net profit fell 20% to Rs 27.89 crore on 8.7% decline in total income to Rs 350.32 crore in Q1 June 2015 over Q1 June 2014.
Orient Cement is a cement manufacturer catering to its varied customers placed across the country.
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