Prism Cement in limelight

Prism Cement rose almost 3% to Rs.121.80 and continues to remain firmly in the green. Its 52-week high is at Rs.129.10.

The stock is up on the company’s announcement that Sanskar Ceramic Pvt Ltd, its step-down joint venture, has successfully completed a 4.2-million m2 (MSM) per annum vitrified tiles capacity expansion at its Dhuva plant in Gujarat.

The good part is here is that commercial production has already started from yesterday. With te start of this unit, the company will now be able to cut down on outsourcing of vitrified tiles from third parties, making it more independent. This is sure to start reflecting on the margins of the company from Q2FY18.