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Sagar Cements strengthens on plan to sell 47% stake in Vicat Sagar Cement

09 Jul 2014 Evaluate

Sagar Cements is currently trading at Rs. 330.00, up by 2.00 points or 0.61% from its previous closing of Rs. 328.00 on the BSE.

The scrip opened at Rs. 312.05 and has touched a high and low of Rs. 330.00 and Rs. 312.05 respectively. So far 1002 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 354.95 on 08-Jul-2014 and a 52 week low of Rs. 131.25 on 17-Feb-2014.

Last one week high and low of the scrip stood at Rs. 354.95 and Rs. 304.55 respectively. The current market cap of the company is Rs. 573.80 crore.

The promoters holding in the company stood at 51.96 % while Institutions and Non-Institutions held 7.51 % and 40.52 % respectively.

Sagar Cements is set to sell its 47 per cent stake in the joint venture Vicat Sagar Cement to the Vicat Group. In this regard, the company’s board will consider the sale of its investment in the plant located at Chatrasal, Gulbarga district of Karnataka, at a board meeting on July 15.

Meanwhile, France-based Vicat is willing to acquire the stake to make it a completely-owned entity. Moreover, the company is hoping to complete the entire transaction by September.

Sagar cements had invested Rs 86 crore in the first phase of the plant with 2.75 million tonnes capacity. Commercial production commenced in January last year.

Sagar Cements Share Price

185.05 2.95 (1.62%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
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ACC 1431.85
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Dalmia Bharat 1972.55
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