India Cements stock rises
The share price of India Cements rose to a 52 week high of 130.80 after the company announced a more than 16 per cent rise in quarterly profits for April-June period.
The India Cements profits rose 16.35 per cent to 43.98 crore despite a 1.63 per cent drop in revenue growth at 1,205.72 crore.“Our volumes have increased year on year but dropped on a sequential basis due to elections in Tamil Nadu. July demand is better and we hope to see a better tomorrow,” said N.Srinivasan, Vice Chairman& MD of India Cements.
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