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Carborundum Universal shines on executing LoI to acquire 49% stake in CRIL

Carborundum Universal Ltd. | Abrasives | Capital Goods & Industrial Consumables | BSE: 513375 | NSE: CARBORUNIV

05 Aug 2014 Evaluate

Carborundum Universal is currently trading at Rs. 171.35, up by 3.80 points or 2.27% from its previous closing of Rs. 167.55 on the BSE.

The scrip opened at Rs. 169.85 and has touched a high and low of Rs. 173.00 and Rs. 168.00 respectively. So far 2,270 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 200.75 on 07-Jul-2014 and a 52 week low of Rs. 97.00 on 06-Aug-2013.

Last one week high and low of the scrip stood at Rs. 173.00 and Rs. 164.00 respectively. The current market cap of the company is Rs. 3,218.00 crore.

The promoters holding in the company stood at 42.15% while Institutions and Non-Institutions held 34.31% and 23.55% respectively.

Carborundum Universal has executed a letter of intent (LoI) on August 04, 2014, with Cellaris, for the purchase of 6,725,250 equity shares representing the remaining 49% of the equity capital held by Cellaris in CRIL subject to necessary approvals. Pursuant to this, CRIL, currently a subsidiary will become a wholly owned subsidiary of the company. The change in ownership is expected to speed up scaling up at CRIL and will ensure continuity of operations and product development.

Cellaris Refractories India (CRIL) is a joint venture between Carborundum Universal, India (CUMI) and Cellaris, Israel (Cellaris) set up for the production of light weight Alumina cell for refractory/insulation application. CUMI is holding 51% and Cellaris is holding 49% of the total share capital of CRIL being Rs 137.25 million equity share capital.

Carborundum Universal is a fully vertically integrated Abrasives, Electro-minerals, Ceramics, Refractory Company with operations in Australia, Canada, China, India, Middle East, Russia, South Africa, Thailand and the USA.

Carborundum Univer. Share Price

939.95 56.30 (6.37%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
Carborundum Univer.	939.95
Grindwell Norton	1574.25
Wendt India	7090.95
John Oakey & Mohan Ltd.
Alirox Abrasives
View more..

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Carborundum Universal shines on executing LoI to acquire 49% stake in CRIL

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