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India Cements surges on plan to invest Rs 75 crore in Shankar Nagar facility in Tamil Nadu

30 Jun 2014

The India Cements is currently trading at Rs 117.50, up by 2.70 points or 2.35% from its previous closing of Rs 114.80 on the BSE.

The scrip opened at Rs 115.15 and has touched a high and low of Rs 118.35 and Rs 115.00 respectively. So far 86732 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 120.25 and Rs 107.75 respectively. The current market cap of the company is Rs 3621.64 crore.

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

In a bid to improve product quality and energy efficiency measures, India Cements is planning to invest around Rs 75 crore in its Shankar Nagar facility in Tamil Nadu. Moreover, the company would start associated works once it receives the environment clearance and it could take 15 months to complete them.

The works include replacing old cement mills to improve the quality of cement and reduce power consumption. As against a capacity of 1.3 million tonnes per annum (mtpa) in 1989, over the last two decades it expanded its total capacity to 15.5 mtpa.

The company has seven integrated cement plants located in Tamil Nadu and Andhra Pradesh; one in Rajasthan (through its subsidiary Trinetra Cement with a capacity of 1.5 mtpa) and two grinding units each in TN and Maharashtra. Its overall plant capacity utilisation stood at around 70 per cent.

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.


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