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Sagar Cements soars on the buzz of planning to buy BMM Cements

14 Aug 2014 Evaluate

Sagar Cements is currently trading at Rs. 340.00, up by 7.40 points or 2.22% from its previous closing of Rs. 332.60 on the BSE.

The scrip opened at Rs. 340.00 and has touched a high and low of Rs. 340.00 and Rs. 340.00 respectively. So far 150 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 373.00 on 18-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. 355.00 and Rs. 321.75 respectively. The current market cap of the company is Rs. 591.19 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 reportedly in talks to buy Bangalore-headquartered BMM Cements as it looks to invest the money it made by cashing out of a joint venture with France’s Vicat. The development will underscore consolidation in the 130-million-tonne South Indian cement market, which accounts for more than a third of India's capacity of 360 MT.

BMM Cements, promoted by BMM Ispat Group, has a one-million-tonne capacity green-field cement facility, along with a 25 megawatt captive power project near Tadipatri in Anantapur district of Andhra Pradesh.

Further, Sagar Cements, which currently has a capacity of 2.75 million tonnes in Nalgonda district of Telangana, would look at facilities in South India that give access to Tamil Nadu, Karnataka and Maharashtra.

 

Sagar Cements Share Price

185.05 2.95 (1.62%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Ultratech Cement 11887.30
Ambuja Cement 458.95
ACC 1431.85
Shree Cement 25301.95
Dalmia Bharat 1972.55
View more..

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