India Cements Q4 results: Net loss of Rs. 111 crores
New Delhi: To begin with, on Wednesday, India Cements had posted its Q4 net sales. Certainly, the company witnessed a net loss of Rs. 111.07 crores for March quarter. At the same time, it had posted a net profit of Rs. 43.85 crores in the corresponding quarter last year.
Besides, the revenue of the company dropped by 26.34% YoY to Rs. 1,151.90 crores in Q4 FY20.
On the other hand, the shares of the company traded 0.53% down at Rs. 131 after the financial results. Significantly, Damani’s family that promotes retail chain D-Mart has slowly increased shareholding in India Cements. It came up about 15.16% as of March 2020.
Moreover, Damani and his brother Mr. Gopikishan S Damani together hold 19.89% in India Cements.
Stock Market Update:
Stock Market June 26th: On Friday, both Sensex and Nifty seem to trade in a bullish trend at the stock market. The Sensex traded up with 35,171.27 levels and Nifty stood up with 10,383.00 levels. The Sensex gained 329.17 points with a 0.94% rise. So then, Nifty has gained 94.10 points with a 0.91% rise.
In the border market, the S&P BSE Midcap index reported a bullish trend in the stock market on June 26th. It gained 36.01 points with a 0.27% rise and reached a 13,258.44 level. The S&P BSE Smallcap index gained 24.14 points with a 0.19% increase and reached a 12,630.28 level. So then, Nifty Bank gained 85.90 points with a 0.40% rise and reached 21,592.05 level.
On the other hand, the number of confirmed COVID-19 cases in India reached 5,28,859 as of June 28th, and deaths reached 16,095.