India's Ramco Cements hits over 1-year high on Q4 profit climb

Ramco Cements

19/05/2023 05:41

** Shares of Ramco Cements Ltd  TRCE.NS  rise as much as
5.6% to 825 rupees, highest since Feb. 23, 2022
    ** Stock climbs most since Feb. 7
    ** Co reported a 23% jump in Q4 profit on a 51% increase in
revenue 
    ** Volume of cement and dry mortar products sold rises 46%,
though a 53% increase in costs dented margins; adds that it
expects margins to improve from Q2 FY24
    ** Over 2.3 mln shares change hands as of 9:54 am IST, 7.9X
the 30-day moving avg
    ** Twelve analysts rate stock "buy" or "strong buy," 6
"hold," 10 "sell" or "strong sell;" median PT is 751.5 rupees -
Refinitiv IBES data
    ** Stock up 11.6% YTD as of last close

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))