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CMI strengthens on commencing commercial production at its new facility at Baddi

11 Apr 2016 Evaluate

CMI is currently trading at Rs. 233.00, up by 7.50 points or 3.33% from its previous closing of Rs. 225.50 on the BSE.

The scrip opened at Rs. 229.40 and has touched a high and low of Rs. 239.00 and Rs. 225.00 respectively. So far 29,000 shares were traded on the counter.

The BSE group 'XC' stock of face value Rs. 10 has touched a 52 week high of Rs. 423.90 on 27-Jan-2016 and a 52 week low of Rs. 85.00 on 13-May-2015.

Last one week high and low of the scrip stood at Rs. 239.00 and Rs. 208.80 respectively. The current market cap of the company is Rs. 310.36 crore.

The promoters holding in the company stood at 36.58% while Non-Institutions held 63.42% respectively.

CMI has started commercial production at its new facility at Baddi, Himachal Pradesh. This facility is a part of the recently acquired General Cable Energy from fortune 500 company, General Cable Corporation.

General Cable Energy lndia, which was rechristened as CMI Energy lndia, is in the process of being merged with CMI, the scheme for which has already been approved by the board of the company and is awaiting statutory clearances.

The company expects to add Rs 1000 crore in capacity, with the commencement of this facility. In the next 3 years, the company expects to optimally utilize the additional capacity. The commercial production at the facility has begun in a record time of 50 days, post acquisition. The total capex on this facility is Rs 150 crore.

CMI was initially engaged in Copper Metal Trade and Copper melting and rod casting and later diversified into cable business.


CMI Share Price

3.24 -0.17 (-4.99%)
20-Apr-2026 16:59 View Price Chart
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