Shriram EPC shines on receiving approval for investment in Sree Jaya Jothi Cements

21 Feb 2012

Shriram EPC is currently trading at Rs. 100.25, up by 3.45 points or 3.56% from its previous closing of Rs. 96.80 on the BSE.

The scrip opened at Rs. 100.65 and has touched a high and low of Rs. 101.80 and Rs. 98.85 respectively. So far 23,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 181.90 on 17-Jun-2011 and a 52 week low of Rs. 77.80 on 29-Dec-2011.

Last one week high and low of the scrip stood at Rs. 113.80 and Rs. 93.00 respectively. The current market cap of the company is Rs. 444.00 crore.

The promoters holding in the company stood at 39.38% while Institutions and Non-Institutions held 11.12% and 49.49% respectively.

Shriram EPC has received an approval for a significant investment in the equity share capital of Sree Jaya Jothi Cements through equity/convertible instruments directly or through its associates, by converting part of our existing dues. The board at its meeting held on February 18, 2012 has approved for the same. Further, this will be subject to the approval of the shareholders through postal ballot.

Shriram EPC is one of the leading  service providers  of the integrated designs, engineering, procurement, construction and  project management services  for power plants, renewable  energy projects, process and metallurgical plants and municipal service sector projects throughout India and overseas.

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