Udaipur Cement soars on getting approval to raise Rs 200 crore via NCDs

02 Jul 2018

Udaipur Cement Works is currently trading at Rs. 19.75, up by 0.25 points or 1.28% from its previous closing of Rs. 19.50 on the BSE.

The scrip opened at Rs. 19.55 and has touched a high and low of Rs. 19.95 and Rs. 19.35 respectively. So far 7902 shares were traded on the counter.

The BSE group 'X' stock of face value Rs. 4 has touched a 52 week high of Rs. 37.40 on 24-Jul-2017 and a 52 week low of Rs. 18.75 on 29-Jun-2018.

Last one week high and low of the scrip stood at Rs. 22.50 and Rs. 18.75 respectively. The current market cap of the company is Rs. 607.25 crore.

The promoters holding in the company stood at 73.58%, while Institutions and Non-Institutions held 0.52% and 25.91% respectively.

Udaipur Cement Works has received approval from its board to raise funds upto Rs 200 crore by way of issue of Non-Convertible Debentures (NCDs). The company has also received approval for Project at a Capital outlay of Rs 37.50 crore at company's Plant for captive use.

The meeting of the Board of Directors of the company held on June 30, 2018, approved the same.

Udaipur Cement Works is engaged in the business of manufacture and sale of cement.

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