Shares of Orient Cement Ltd. rose over 8% in intraday trade to Rs 158.7 apiece after the company reported growth in net profit and revenue in the September quarter.
Orient Cement Q2FY22 (Consolidated, YoY)
- Revenue up 28% at Rs 613.12 crore Vs Rs 477.49 crore
- Net profit up 63% at Rs 56.88 crore Vs Rs 34.81 crore
- Ebitda up 18% at Rs 133.97 crore Vs Rs 113.23 crore
- Margin at 21.9% Vs 23.7%
Of the 15 analysts tracking the company, 14 maintained ‘buy’ and one maintained ‘hold’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 31.1%. Trading volume was 4.5 times the 30-day average volume, for this time of the day.