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Shree Cement gains after commissioning project

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World Cement,

Shree Cement has gained 2.43% to Rs 12 361.25 on BSE after the company announced that it has commissioned an autoclaved aerated concrete blocks project.

The announcement was made on 30 March 2016.

Shree Cement said that the project has a capacity of 300 000 m3 per annum and is situated at Sikandrabad, Bulandshahr in Uttar Pradesh. Autoclaved aerated concrete (AAC) is a building material and is a new product launched by the company for the domestic market.

Shree Cement's net profit rose 9.8% to Rs 102.86 crore with an 18.5% increase in net sales to Rs 1826.83 crore in Q2 December 2015 over Q2 December 2014.

Shree Cement is focused on its core business of cement and power. Currently its manufacturing operations are spread over North and Eastern India across five states.

Edited from sources by Joseph Green. Sources: LiveMint, India Infoline, Business Standard

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