India's Orient Cement down 2% on lower Q4 profit

Orient Cement

28/04/2023 10:36

** Shares of Orient Cement Ltd  ORCE.NS  fall as much as
2.2% to 124.25 rupees, after Q4 results, marking their biggest
intraday pct loss since Apr. 10
    ** Cement maker reports 8% fall in March qtr profit, driven
by 27.5% jump in fuel and power costs
    ** Stock hit intraday high of 131.45 rupees before results;
currently flat
    ** More than 1.3 mln shares change hands by 2:54 p.m. IST,
2.7x their 30-day avg volume
    ** Ten analysts covering the stock rate it "buy" on average;
median PT is 146.50 rupees - Refinitiv data
    ** At current levels, stock up 3.9% so far this year


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))