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Sagar Cements touches the roof on the buzz of plan to acquire cement business of BMM Ispat

12 Sep 2014 Evaluate

Sagar Cements is currently trading at its upper circuit limit of Rs. 386.00, up by 18.35 points or 4.99% from its previous closing of Rs. 367.65 on the BSE.

The scrip opened at Rs. 386.00 and has touched a high and low of Rs. 386.00 and Rs. 386.00 respectively. So far 75 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 396.95 on 02-Sep-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. 386.00 and Rs. 348.05 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 is reportedly set to acquire cement business of Bangalore-based BMM Ispat Group. The deal, with an enterprise value of about Rs 500 crore, is likely to be sealed in a couple of weeks.

Once the deal is closed, Sagar’s capacity would go up from 2.75 million tonnes to 3.75 million tonnes as BMM has a one-million-tonne cement manufacturing unit at Tadipatri in Anantapur district of Andhra Pradesh.

The acquisition would benefit Sagar as it would provide easy access to southern markets and significantly reduce freight charges by over 40 per cent. Further, it also has a captive power plant of 25 MW.

 

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
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