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Binani Cement inches ahead on expansion plan

Capital Market/ 12:01 , Jan 14, 2011

Binani Cement rose 0.74% to Rs 88.20 at 12:01 IST on BSE, after the company signed a pact with Gujarat government to set up a 610 megawatt power plant, a captive jetty & 5 million tonnes per annum cement facility at a total outlay of Rs 4200 crore.

Meanwhile, the BSE Sensex was up 17.24 points, or 0.09%, to 19,200.06.

On BSE, 6,075 shares were traded in the counter compared with the average volume of 95,555 shares in the past one quarter.

The stock hit a high of Rs 89.40 and a low of Rs 87.80 so far during the day. The stock had hit a 52-week high of Rs 108.80 on 7 October 2010 and a 52-week low of Rs 67.50 on 26 February 2010.

The mid-cap stock had outperformed the market over the past one month till 13 January 2011, rising 2.10% compared with the Sensex's 2.58% fall. It had underperformed the market in past one quarter, falling 9.27% as against Sensex's decline of 7.28%.

The company has an equity capital of Rs 203.10 crore. Face value per share is Rs 10.

Binani Cement's net profit tumbled 98.8% to Rs 1.18 crore on 19.4% fall in net sales to Rs 348.59 crore in Q2 September 2010 over Q2 September 2009.

 



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