Sagar Cements is currently trading at Rs. 770.00, up by 21.60 points or 2.89% from its previous closing of Rs. 748.40 on the BSE.
The scrip opened at Rs. 750.00 and has touched a high and low of Rs. 770.00 and Rs. 750.00 respectively.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 835.00 on 14-Oct-2016 and a 52 week low of Rs. 350.00 on 18-Feb-2016.
Last one week high and low of the scrip stood at Rs. 770.00 and Rs. 736.00 respectively. The current market cap of the company is Rs. 1,386.00 crore.
The promoters holding in the company stood at 56.70%, while Institutions and Non-Institutions held 7.50% and 35.81% respectively.
Sagar Cements (SCL) has successfully concluded its fund raising exercise through Qualified Institutional Placement (QIP). Anand Rathi Advisors and YES Securities (India) acted as merchant bankers to this QIP issuance.
The amount was raised by issuing 24,00,000 equity shares of Rs 10 each at a price of Rs 720.00, including a premium of Rs 710.00 per share. Post issue, the institutional holding is in excess of 18.7 % as against 7.3 % pre-QIP. The transaction witnessed participation of highly reputed investors.
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.
