India's Shree Cement at more than 1-year low on Q2 profit plunge

Nuvoco Vistas

12/11/2024 04:30

** Shree Cement  SHCM.NS  falls 3.8% to 23,500 rupees,
lowest since Aug. 21, 2023
    ** Cement maker's Q2 profit plunges 81% to 931.3 mln rupees
($11 mln), hurt by weak cement prices and demand; rev down 18%
to 37.27 bln rupees
    ** SHCM sees busiest day in more than a week, with over
29,000 shares traded
    ** Stock rated "hold" on avg; median PT is 26,527.5 rupees -
LSEG
    ** SHCM last down 1.5%, extending YTD fall to 15.9%

($1 = 84.3925 Indian rupees)

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))