Prism Cement rose 1.94% to Rs 28.90 at 9:51 IST on BSE after the company said it has started production of coal at the Prism Coal Mine in Chhindwara, Madhya Pradesh.
The company made the announcement during trading hours today, 7 March 2014.
Meanwhile, the BSE Sensex was up 167.26 points, or 0.78%, to 21,681.13.
On BSE, so far 28,000 shares were traded in the counter, compared with an average volume of 1.30 lakh shares in the past one quarter.
The stock hit a high of Rs 29.25 and a low of Rs 28.20 so far during the day. The stock hit a 52-week high of Rs 47.40 on 7 May 2013. The stock hit a 52-week low of Rs 22.80 on 14 February 2014.
The stock had outperformed the market over the past one month till 6 March 2014, rising 21.15% compared with the Sensex's 5.92% rise. The scrip had also outperformed the market in past one quarter, rising 7.18% as against Sensex's 2.46% rise.
The small-cap company has an equity capital of Rs 503.36 crore. Face value per share is Rs 10.
Prism Cement said that it has been granted all statutory clearances for the operation of the coal mine. The mined coal will be used for captive consumption of the cement plant located at Satna, Madhya Pradesh, the company said.
Prism Cement reported net loss of Rs 62.34 crore in Q3 December 2013, higher than net loss of Rs 53.86 crore in Q3 December 2012. Net sales declined 2.74% to Rs 1142.62 crore in Q3 December 2013 over Q3 December 2012.
Prism Cement is an integrated building materials company, with a wide range of products from cement, ready-mixed concrete, tiles, bath products to kitchens. The company has three divisions, viz. Prism Cement, H & R Johnson (India), and RMC Readymix (India).
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