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Last Updated : Jul 30, 2020 10:08 AM IST | Source: Moneycontrol.com

Sagar Cements share price up after Q1 profit rises 22%; board recommends dividend

The stock was trading with volumes of 11,796 shares, compared to its five-day average of 3,443 shares, an increase of 242.59 percent.

 
 
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Sagar Cements share price jumped 11 percent intraday on July 30 after the company came out with its June quarter numbers.

The company reported a 22 percent rise in Q1FY21 net profit at Rs 36 crore as against Rs 29.5 crore in the year-ago period. Revenue, however, fell 23.3 percent to Rs 264.1 crore from Rs 344.2 crore, YoY.

The stock price has jumped almost 50 percent in the last one month and was trading at Rs 515.50, up Rs 50.55, or 10.87 percent, at 0952 hours. It has touched an intraday high of Rs 528.20 and an intraday low of Rs 484.

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The stock witnessed a spurt in volume by more than 1.34 times and was trading with volumes of 11,796 shares, compared to its five-day average of 3,443 shares, an increase of 242.59 percent.

The board in its meeting on July 29 recommended a dividend of Rs 2.50 per equity share (25 percent) on the 2,35,00,000 equity shares of Rs 10 each for the year 2019-20, it said in an exchange filing.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, promoters have been increasing shareholding with the stock showing strong momentum.

Moneycontrol technical rating is very bullish, with moving averages and technical indicators being bullish.

Disclaimer: The views and investment tips expressed by experts on moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​
First Published on Jul 30, 2020 10:08 am
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