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Shree Cements shares fell 4% on Tuesday to Rs 23,500.15 after the company reported an 80% YoY drop in Q2 profit, down to Rs 93.13 crore. The decline was driven by weak demand and lower prices for cement. Despite the seasonally slow quarter, sales volume also dropped 7% to 7.60 million tonnes.
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Kelly Spahr from North Carolina won a $250,000 lottery prize. Spahr bought a scratch-off ticket while getting orange juice at a Quality Mart. She chose the $20 Merry Multiplier ticket. The ticket turned out to be a top prize winner. Spahr said the win will greatly benefit her family. In another event, a man won a $3 million lottery prize.
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NMDC shares fell 4.2% despite a strong Q2 performance and a 2:1 bonus share announcement. Revenue grew 19.7%, while profit rose 23% YoY. Motilal Oswal maintains a buy rating with a Rs 280 target.
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