MUMBAI (Commodity Online): Kolkata-based cement manufacturer, Shree Cement Ltd (BOM:500387) is trading high on the Bombay Stock Exchange (BSE) as the company had announced the commissioning of a clinker-grinding unit in Haridwar in Uttarakhand.

The unit will have a grinding capacity of 1.8 million tonnes per annum. The company stocks shot up to mark all time high of Rs.2369.85 in the morning trading on the BSE today. The company made this announcement after market hours on Monday, 15 March 2010.

The stock was trading at Rs.2364.50 up by over 2% from its previous close. The stock has been on the rise over past five trading session as the stock price gained as much as over 7% in past five trading sessions.



The large-cap stock had outperformed the market over the past one quarter, rising 24.81% as compared to the Sensex's return of 1.71%.

Last week, the company had commissioned a 1.80 million tonnes per annum (MTPA) clinker grinding unit Sri Ganganagar district of Rajasthan.

Shree Cement's net profit rose 35.1% to Rs.167.43 crore on 30.3% increase in net sales to Rs.866.03 crore in Q3 December 2009 over Q3 December 2008.

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