Moneycontrol Bureau
Sagar Cements shares jumped over 8 percent intraday Tuesday after reporting a solid growth in production as well as sales for the November month.
Production on standalone basis grew by 26.2 percent year-on-year to 1.12 lakh tonne and the same on consolidated basis rose 34 percent to 1.6 lakh tonne in November, the company said in its filing.
Sales during the month increased 12.9 percent to 1.05 lakh tonne, driven by strong growth mostly in southern states like Telengana, Andhra Pradesh and Tamilnadu. However, Maharashtra, Karnataka and Orissa states showed contraction in sales growth.
Sourthern states contribute around 75 percent to company's overall cement sales. In November, standalone sales' contribution was 73 percent and consolidated one was nearly 82 percent to total sales.
Sagar Cements sold 1.6 lakh tonne of cement in the month gone by, which increased 23.2 percent compared with year-ago period.
At 12:38 hours IST, the stock was quoting at Rs 697, up Rs 36.25, or 5.49 percent on the BSE.Posted by Sunil Shankar Matkar
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