India Cements strengthens on plans of revamping cement plant in Salem, Tamil Nadu

23 Jun 2014 Evaluate

The India Cements is currently trading at Rs. 110.85, up by 1.45 points or 1.33 % from its previous closing of Rs. 109.40 on the BSE.

The scrip opened at Rs. 109.10 and has touched a high and low of Rs. 110.85 and Rs. 107.75 respectively. So far 44144 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 130.60 on 09-Jun-2014 and a 52 week low of Rs. 43.00 on 12-Aug-2013.

Last one week high and low of the scrip stood at Rs. 121.85 and Rs. 108.50 respectively. The current market cap of the company is Rs. 3340.57 crore.

The promoters holding in the company stood at 28.23 % while Institutions and Non-Institutions held 47.93 % and 20.93 % respectively.

India Cements is reportedly planning to revamp and expand capacity of its cement plant in Salem in Tamil Nadu with an investment of Rs 80 crore.

The old cement plant is being replaced with new equipment and in the process the output will increase to about 17 lakh tonnes from the present six lakh tonnes. In this regard, the company is seeking environmental clearance and once these are in place the project will be take off.

This will optimise the existing kiln and add a new line. The total power requirement for the expanded capacity will be about 28 MW, including about 13 MW for the new line.

India Cements is largest manufacturer of cement in South India. India Cements owns 28% of the market share and is leader in south India. The cement manufacturer aims 35% market share. It has distribution network of 10,000 stockists.

India Cements Share Price

189.70 -4.95 (-2.54%)
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