Sagar Cements tanks 12%, hits 52-week low on growth concerns

The geopolitical tensions between Russia and Ukraine have resulted in sharp increase in pet coke and coal prices, thereby, denting overall profitability of the business.

Shares of Sagar Cements hit 52-week low of Rs 172 and tanked 12 per cent on the BSE in Thursday’s trade on growth concerns. The stock fell below its previous low of Rs 193.25 that it had touched on June 13, 2022. With today’s fall, the stock has corrected 46 per cent from its 52-week high level of Rs 319, hit on August 6, 2021.

The rise in input costs; especially fuel, pet coke and coal prices have dampened EBITDA margins of cement companies during the second half of the fiscal year 2021-22. Further, the geopolitical tensions between Russia