Shree Cement rises on completing acquisition of 1.5 MTPA Cement Grinding Unit

29 Apr 2015

Shree Cement is currently trading at Rs. 10335.00, up by 110.15 points or 1.08% from its previous closing of Rs. 10224.85 on the BSE.

The scrip opened at Rs. 10300.00 and has touched a high and low of Rs. 10390.00 and Rs. 9888.60 respectively. So far 12465 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 11755.00 on 03-Feb-2015 and a 52 week low of Rs. 5675.00 on 02-May-2014.

Last one week high and low of the scrip stood at Rs. 10480.45 and Rs. 9841.15 respectively. The current market cap of the company is Rs. 35965.95 crore.

The promoters holding in the company stood at 64.79 % while Institutions and Non-Institutions held 17.14 % and 18.07 % respectively.

Shree Cement has completed the acquisition of 1.5 MTPA Cement Grinding Unit located at Panipat in Haryana from Jaiprakash Associates on April 27, 2015, at a consideration of Rs 358.22 crore. The company had entered into a Business Transaction Agreement (BTA) with Jaiprakash Associates for the same on September 19, 2014.

Shree Cement the leading cement manufacturing in North India was incorporated in the year 1978. It has more than trebled its cement capacity in the last 5 years to reach a present cement capacity of 13.5 million tones per annum. Its cement plants are located at Beawar, Ras, Khushkhera, Jobner and Suratgarh in Rajasthan and Laksar (Roorkee) in Uttarakhand.

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