M Cap: Rs 5,364cr
The H M Bangur group cement company has seen surprisingly high despatches during monsoon months, like most other cement companies, as poor rains allowed construction activities to continue, especially in the rural areas. July despatches totalled 8.3 Iakh metric tonne, a 42 per cent increase over the 5.82 lakh mt in July last year. Average realisations also increased by 13 per cent in the June 2009 quarter to Rs 198 compared with Rs 179 in the previous quarter ended March2009. The stock has seen a keen interest following its strong performance in the June quarter. Net profit more than doubled to Rs 291 crore from Rs 111 crore in the previous corresponding period and revenues increased by 50 per cent to Rs 922 crore from Rs 615 crore. This has been attributed to higher volumes during the period. At the current price, the stock quotes at seven times its trailing 12-month earnings.
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