Mangalam Cement is currently trading at Rs. 307.75, up by 2.25 points or 0.74 % from its previous closing of Rs. 305.50 on the BSE.
The scrip opened at Rs. 306.60 and has touched a high and low of Rs. 316.00 and Rs. 304.05 respectively. So far 4846 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 375.15 on 23-Aug-2016 and a 52 week low of Rs. 179.00 on 09-Mar-2016.
Last one week high and low of the scrip stood at Rs. 322.60 and Rs. 302.05 respectively. The current market cap of the company is Rs. 824.30 crore.
The promoters holding in the company stood at 13.28%, while Institutions and Non-Institutions held 18.41% and 68.31% respectively.
Credit rating agency, CARE has assigned ‘A1+’ rating to Mangalam Cement’s commercial paper (CP) issue worth Rs 50 crore. The rating assigned to the Commercial Paper issue of Mangalam Cement (MCL) draws comfort from the rich experience of the promoters, long & established track record of the group, established brand though majorly concentrated in northern region, strong marketing channel, operating efficiency arising out of backward integration, and satisfactory capital structure.
The rating also takes into account improvement in the revenue-risk profile during 9MFY17 (refers to the period April 1 to December 31) after incurring losses in FY16 (refers to the period April 1 to March 31) and commencement of commercial production at Aligarh unit. The rating, however, factors in partial procurement of high cost limestone from the open market, volatility in input and finished goods prices and cyclicality of cement industry.