Dark Horse Stock of the Day: Heavy Buying Cement Stock Rallies and Hits Upper Circuit Twice Today; Radhakishan Damani Holds 11.34 per cent Stake!

Radhakishan Damani hold 11.34 per cent stake in the company as per the recent update.

India Cements Ltd is a leading cement manufacturing company headquartered in Chennai. It was incorporated in the year 1946 by Shri S N N Sankaralinga Iyer and Sri T S Narayanaswami. While cement remains its mainstay over the years, India Cements has diversified into related fields such as shipping, captive power, and coal mining, which synergize purposefully with its core business. The company is also a sponsor of the IPL franchise "Chennai Super Kings".

At the start of the day's trading session, the share of India Cements Ltd opened at Rs 232.95 per share, compared to the previous day's closing figure of Rs 229.30 per share on the BSE. Currently, the shares are at Rs 265.75 per share on the BSE. The stock has reached the upper circuit price limit of 15 per cent, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers.  The current market capitalization of India Cements Ltd stands at Rs 8235.32 crore, and the stock has generated an impressive return of around 24 per cent in the past 3 years. 

Financial Performance

As per the Quarterly Results, in the fourth quarter of FY24, India Cements Ltd recorded a revenue of Rs 1267 crore. The operating profit for Q4 FY24 stood at Rs 38 crore. The net loss for Q4 FY24 was Rs 61 crore. Looking at the annual performance, the company generated a revenue of Rs 5112 crore in FY24, compared to Rs 5608 crore in FY23. The operating profit for FY24 was Rs 99 crore, with a net loss of Rs 227 crore.

Regarding the shareholding pattern, the promoters own 28.42 per cent of the company and the public or retail investors hold 49.83 per cent.

Investors must keep this Small-Cap stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.