Ramco Cements gains on getting nod for expansion plans

04 Aug 2017

Ramco Cements is currently trading at Rs. 690.20, up by 1.60 points or 0.23% from its previous closing of Rs. 688.60 on the BSE.

The scrip opened at Rs. 680.60 and has touched a high and low of Rs. 696.60 and Rs. 680.45 respectively. So far 3346 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 750.00 on 31-May-2017 and a 52 week low of Rs. 478.90 on 15-Nov-2016.

Last one week high and low of the scrip stood at Rs. 713.00 and Rs. 658.00 respectively. The current market cap of the company is Rs. 16260.41 crore.

The promoters holding in the company stood at 42.67%, while institutions and non-institutions held 36.40% and 20.92% respectively.

Ramco Cements has received an approval for expansion plans of its existing satellite grinding units and installation of a new satellite grinding unit. The company aims to expand its business operations in the state of Andhra Pradesh, Odisha, West Bengal and North Eastern states. The board of directors at their meeting held on August 3, 2017, has approved for the same.

Ramco Cements is the flagship company of the Ramco Group, a well-known business group of South India. The main product of the company is Portland cement, manufactured in eight state-of-the art production facilities that includes Integrated Cement plants and Grinding units.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323