Sagar Cements trades jubilantly on getting nod to acquire 100% stake in BMM Cements

20 Oct 2014

Sagar Cements is currently trading at Rs. 347.25, up by 20.85 points or 6.39% from its previous closing of Rs. 326.40 on the BSE.

The scrip opened at Rs. 349.50 and has touched a high and low of Rs. 359.00 and Rs. 343.00 respectively. So far 844 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. 359.00 and Rs. 325.00 respectively. The current market cap of the company is Rs. 612.06 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 has received final approval for the acquisition of 100% equity stake in BMM Cements, which owns a cement plant of 1 million tonne capacity per annum and a captive thermal power plant of 25 MW capacity in Gudipadu near Tadipatri Anantapur District in the state of Andhra Pradesh. The board of directors at their meeting held on October 17, 2014 has approved for the same.

Sagar Cements is one of the most modern mini cement plants in the state of Andhra Pradesh. The plant is based on Dry Process Rotary Kiln Technology that is used in ‘Standard Quality' cement companies.

Related Sagar Cements Ltd. Links:

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