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Shree Cements Ltd., incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 73243.02 Crore) operating in Cement sector.

Gold futures on MCX were trading merely higher by about 0.05 per cent or Rs 23 at Rs 50,343 per 10 grams. However, silver futures traded higher by 0.18 per cent or Rs 102 at Rs 55,829 per kg.

The BSE market capitalisation jumped Rs 2.29 lakh crore to Rs 258.84 lakh crore from Rs 256.54 lakh crore in the previous session, as seven of every 10 BSE stocks rose and some 150-odd stocks hit their upper circuit limits.

"Our Vision-2025 will play a crucial role in charting the next phase of growth for the company, with the current revenue mix ratio of approximately 35:65 between non-South and South markets, the aggressive expansion strategy will supplement in fueling the revenue contribution from non-South markets. The launch of 10 new showrooms backed by the newly-launched franchise arm will be critical in boosting further growth."

The Relative Strength Index of the stock stood at 57.61 on Wednesday.

US inflation is at a 41-year high and has been rising steadily: 8.3 per cent in April, 8.6 per cent May and 9.1 per cent in June. Inflation in the UK is 9.1 per cent in June and in Euro Zone inflation is at 8.6 %. A severe US recession, along with the ongoing slowdown in China and Europe, can severely impact global growth and corporate earnings, which is not yet reflected in global equity prices.

"We already have clarified the reason behind the crash to our investors and users. Thankfully, the community has shown its support since the inception of this project. Besides, our team has always been transparent to the investors, and community by sticking to our mission and objectives. We would like to reiterate that this is just a one-off event, we will come back stronger."

The Nifty Bank index was trading 1.24 per cent up at 36163.95.

In its earnings preview, Emkay Global expects IndusInd Bank to log a 49.4 per cent YoY rise in net profit at Rs 1,518.30 crore compared with Rs 1,016.10 crore in the same quarter last year. NII is seen growing at 14 per cent YoY to Rs 4,062.90 crore from Rs 3,563.70 crore in the year-ago quarter. It sees NIM at 4.2 per cent, the same as the March quarter but better than 4.1 per cent in the year-ago quarter.

“We wish to inform you that the Board of Directors of the company through resolution passed by circulation on Tuesday, July 19, 2022, have approved second interim dividend of Rs 19.50 per equity share amounting to Rs 7,250 crore,” said the company in a filing to BSE.