Europe / Middle East / Africa
Lucky Cement falls on quality issues
Jul, 27 2012
(KARACHI, Pakistan) -- Lucky Cement faced selling pressure at the Karachi Stock Exchange on Thursday on reports that importers in Africa have raised some issues in the quality of its cement.
Imtiaz Gadar, head of research at KASB Securities, said that Lucky Cement fell after repots landed in the market that it was facing some quality issues in its exports to Africa. The shares have opened on a positive note in the morning, he said.
Share price of the company declined by Rs1.45 to Rs128.89 on a turnover of 2.79 million shares. It hit an intraday high of Rs131.38 and a low of Rs128.50 during the session.
The stock ranked on fifth position among the turnover leaders. It drove the benchmark 100-share index down by two points.
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