Birla Corporation is currently trading at Rs. 397.00, up by 2.40 points or 0.61% from its previous closing of Rs. 394.60 on the BSE.
The scrip opened at Rs. 400.00 and has touched a high and low of Rs. 405.00 and Rs. 395.00 respectively. So far 4954 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 543.50 on 17-Aug-2015 and a 52 week low of Rs. 375.75 on 03-Feb-2016.
Last one week high and low of the scrip stood at Rs. 407.00 and Rs. 375.75 respectively. The current market cap of the company is Rs. 3038.63 crore.
The promoters holding in the company stood at 62.90% while Institutions and Non-Institutions held 20.56% and 16.54% respectively.
Birla Corporation (Birla Corp) has entered into an agreement with Reliance Infrastructure (RInfra) for acquisition of its entire cement business for an Enterprise Value of Rs 4,800 crore. The two companies have agreed that Birla Corp shall acquire all of the shares of Reliance Cement Company (Reliance Cement). The acquisition, subject to approval of Competition Commission of India (CCIL) and other relevant regulatory authorities, will be funded through existing cash reserves and incremental debt.
This acquisition will provide Birla Corp ownership of high quality assets taking its total capacity from 10 MTPA to 15.5 MTPA strengthening its presence in the high growth central region. The company’s expansion potential will also be enhanced -with mineral concessions in states of MP, Maharashtra, Rajasthan, Karnataka, Andhra Pradesh and Himachal Pradesh - to emerge as a pan-Indian player in the foreseeable future.
Reliance Cement has three cement units, an integrated cement plant at Maihar (Madhya Pradesh) and grinding units at Kundanganj (Uttar Pradesh) and Butiburi (Maharashtra). Birla Corp will also benefit from Reliance Cement’s strategically located raw material sources, captive coal mine, optimum manpower, efficient operating parameters and technical capability for producing top end quality product.
Birla Corp, established in 1919, is part of the MP Birla Group with presence across cement and jute; cement constitutes over 90% of the company’s revenues with units in Rajasthan, Madhya Pradesh, Uttar Pradesh and West Bengal.
| Company Name | CMP |
|---|---|
| Ultratech Cement | 11887.30 |
| Ambuja Cement | 458.95 |
| ACC | 1431.85 |
| Shree Cement | 25301.95 |
| Dalmia Bharat | 1972.55 |
| View more.. | |
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