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Ramco Cements strengthens on plans of setting up cement factory in Andhra Pradesh

28 Aug 2014

The Ramco Cements is currently trading at Rs. 332.00, up by 3.90 points or 1.19 % from its previous closing of Rs. 328.10 on the BSE.

The scrip opened at Rs. 330.55 and has touched a high and low of Rs. 338.25 and Rs. 330.20 respectively. So far 8836 shares were traded on the counter.

The BSE group 'A' stock of face value Re. 1 has touched a 52 week high of Rs. 329.40 on 27-Aug-2014 and a 52 week low of Rs. 136.00 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 329.40 and Rs. 307.10 respectively. The current market cap of the company is Rs. 7857.75 crore.

The promoters holding in the company stood at 42.32 % while Institutions and Non-Institutions held 37.44 % and 20.24 % respectively.

Ramco Cement has proposed to set up cement factory at Kilimigundla village in Kurnool district of Andhra Pradesh with an investment outlay of Rs 1500 crore. The total investment in the cement plant and related infrastructure could go up to Rs 3000 crore, as it requires a rail line of about 20 km to facilitate transport.

In this regard, the company has requested the State Chief Minister to provide necessary land to develop the plant and also facilitate necessary clearances to develop the rail line as this would be useful for other projects in the area.

Meanwhile, the Ramco indicated that a new facility set up near Visakhapatnam would also be ready for commissioning by October 15 this year.

Ramco Cements formally known as Madras Cements (MCL) was established in 1957, is part of Ramco Group, a well known business group of South India. It is based at Chennai. The company is the fifth largest cement producer in the country. Ramco Supergrade is the most popular cement brand in South India.

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