Ramco Cements gains on entering into agreement to acquire Clinker Grinding Unit

06 Mar 2018

Ramco Cements is currently trading at Rs. 740.00, up by 11.50 points or 1.58% from its previous closing of Rs. 728.50 on the BSE.

The scrip opened at Rs. 739.10 and has touched a high and low of Rs. 740.00 and Rs. 737.00 respectively.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 839.95 on 20-Dec-2017 and a 52 week low of Rs. 616.00 on 09-Mar-2017.

Last one week high and low of the scrip stood at Rs. 754.55 and Rs. 725.50 respectively. The current market cap of the company is Rs. 17,432.68 crore.

The promoters holding in the company stood at 42.75%, while Institutions and Non-Institutions held 36.34% and 20.91% respectively.

Ramco Cements has entered into an agreement with Ramco Industries, a Related Party, for acquisition of their clinker grinding unit situated at Kharagpur, West Bengal. The proposal involves acquisition of land together with the structures and machinery erected thereon. The company will pay cash consideration of Rs 17 crore as part of the deal.

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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