India Cements reports around eleven-fold jump in Q3 net profit
India Cements has reported results for third quarter ended December 31, 2016.
The company has posted around eleven-fold jump in its net profit at Rs 35.34 crore for the quarter under review as compared to Rs 3.16 crore for the same quarter in the previous year. Total income of the company increased by 19.21% at Rs 1270.95 crore for the quarter under review as compared Rs 1066.13 crore for the corresponding quarter previous year.
India Cements is the largest producer of cement in South India and one of the largest cement manufacturer in the country with a total installed cement manufacturing capacity of 14.05 mtpa (million tonnes per annum).
Technical Levels of India cement
Support at 140 and Resistance at 150
Break and sustain above 155—160 and then to 165+ mark in days to come, else could touch its support level of 140.00
Fresh selling can be initiated if closes below 140.00
More will update soon!!
