Dalmia Bharat advances on receiving nod to sell entire stake in Kanika Investment

07 Aug 2017 Evaluate

Dalmia Bharat is currently trading at Rs. 2645.25, up by 73.65 points or 2.86% from its previous closing of Rs. 2571.60 on the BSE.

The scrip opened at Rs. 2600.00 and has touched a high and low of Rs. 2692.00 and Rs. 2600.00 respectively. So far 1,603 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2780.05 on 19-Jul-2017 and a 52 week low of Rs. 1186.40 on 26-Dec-2016.

Last one week high and low of the scrip stood at Rs. 2709.00 and Rs. 2557.90 respectively. The current market cap of the company is Rs. 23,533.00 crore.

The promoters holding in the company stood at 58.04%, while Institutions and Non-Institutions held 21.52% and 20.43% respectively.

Dalmia Bharat has received an approval for sale of the entire shareholding of the company in its wholly owned subsidiary, Kanika Investment (a registered Non-banking Financial Company) to Shree Nirman, a promoter group entity.

The board of directors at its meeting held on August 5, 2017, have approved the Share Purchase Agreement for sale of the entire shareholding of the company comprising of 4,20,000 equity shares of face value of Rs 10 each of Kanika Investment at a consideration of Rs 195.19 per share aggregating to Rs 8.20 crore. The transaction is proposed to be completed on or before September 19, 2017.

Dalmia Bharat is an India-based holding company. The company operates as a cement manufacturing company.


Peers
Company Name CMP
Ultratech Cement 9740.00
ACC 2494.75
Shree Cement 25800.00
Ambuja Cement 612.30
Dalmia Bharat 1940.05
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