India's Orient Cement hits 3-yr high as Q4 profit more than doubles

Orient Cement

18/05/2021 08:04

** Shares of the cement maker  ORCE.NS  rise as much as 8.8%
to 132.40 rupees, their highest since May 2018
    ** Co on Monday reported March qtr net profit, which more
than doubled to 998.8 mln rupees, while revenue jumped 27%
 urn:newsml:reuters.com:*:nFWN2N40VE
    ** ORCE says cement demand has been "progressively
recovering" over the past year with improvement in prices 
    ** Co also recommended final dividend of 1.50 rupees per
share
    ** About 5.8 mln shares change hands, 4.4x 30-day avg
    ** ORCE shares up 40% so far this year as of last close

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (Within U.S.
1-646-223-8780, Outside U.S. +91 8067496031); Reuters Messaging:
nallur.sethuraman.thomsonreuters.com@reuters.net))