ACC jumps on selling entire shareholding in Shiva Cement for Rs 38.66 crore

14 Mar 2017

ACC is currently trading at Rs. 1417.00, up by 15.75 points or 1.12% from its previous closing of Rs. 1401.25 on the BSE.

The scrip opened at Rs. 1427.35 and has touched a high and low of Rs. 1428.40 and Rs. 1409.20 respectively. So far 6936 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1738.00 on 08-Aug-2016 and a 52 week low of Rs. 1218.60 on 11-Mar-2016.

Last one week high and low of the scrip stood at Rs. 1,428.40 and Rs. 1381.50 respectively. The current market cap of the company is Rs. 26529.65 crore.

The promoters holding in the company stood at 54.53%, while Institutions and Non-Institutions held 31.01% and 14.31% respectively.

ACC has sold its entire shareholding comprising 2,36,50,000 equity shares of Rs 2 Face Value representing 12.13% of the equity share capital in Shiva Cement at a total consideration of Rs 38.66 crore. The company has sold the shares on March 9, 2017, at Rs 16.35 per equity share to JSW Cements. The sale is an off market transaction pursuant to a Share Purchase Agreement dated February 15, 2017 entered into between the company and JSW Cement.

ACC is India’s foremost manufacturer of cement and ready mixed concrete with a countrywide network of factories and sales offices.

ACC Share Price

1877.10 -6.20 (-0.33%) May 14, 18:01
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323