Sagar Cements is currently trading at Rs. 343.05, up by 5.95 points or 1.77% from its previous closing of Rs. 337.10 on the BSE.
The scrip opened at Rs. 340.00 and has touched a high and low of Rs. 343.85 and Rs. 340.00 respectively. So far 300 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 365.00 on 15-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. 365.00 and Rs. 312.05 respectively.
The promoters holding in the company stood at 51.96% while Institutions and Non-Institutions held 7.51% and 40.52% respectively.
Sagar Cements (SCL), one of the most efficient cement manufacturers in the country, has received an approval for sale of its entire stake of 6,52,36,399 equity shares held in its Joint Venture, Vicat Sagar Cement for a total consideration of Rs 435 crore (Rs 66.68 per equity share) to Parficim S.A.S., France, an affiliate of Vicat S.A., France.
The board of directors at its meeting held on July 15, 2014 has approved for the same. This approval is subject to further approval of shareholders of SCL and other approvals, if any, from the regulatory authorities concerned. This transaction is also the result of a strategic decision taken by both entities to enable each one focus on its own strengths and capabilities to create value and drive growth.
Sagar Cements and The Vicat Group had entered into this joint venture in June 2008, with the objective of setting up a 5.5 million tonne plant in Gulbarga, Karnataka. The first phase of this facility, capable of producing 2.75 million tonnes was completed in December 2012 with the commencement of production in January 2013. Sagar’s Contribution for first phase was Rs 86 crore for its 47% stake in the Joint Venture.
| Company Name | CMP |
|---|---|
| Ultratech Cement | 11887.30 |
| Ambuja Cement | 458.95 |
| ACC | 1431.85 |
| Shree Cement | 25301.95 |
| Dalmia Bharat | 1972.55 |
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