Kesoram Industries rises on getting nod to demerge Tyre Undertaking into Birla Tyres

06 Dec 2018

Kesoram Industries is currently trading at Rs. 85.45, up by 0.55 points or 0.65% from its previous closing of Rs. 84.90 on the BSE.

The scrip opened at Rs. 82.90 and has touched a high and low of Rs. 87.40 and Rs. 81.00 respectively. So far 245963 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 173.25 on 10-Jan-2018 and a 52 week low of Rs. 54.50 on 23-Oct-2018.

Last one week high and low of the scrip stood at Rs. 99.20 and Rs. 81.00 respectively. The current market cap of the company is Rs. 1223.42 crore.

The promoters holding in the company stood at 53.18%, while Institutions and Non-Institutions held 5.90% and 35.98% respectively.

Kesoram Industries has received approval to demerge the company's Tyre Undertaking into Birla Tyres, to be implemented in terms of the scheme of arrangement between the company, Birla Tyres and their respective Shareholders and Creditors. The Board of Directors of the Company at its meeting held on December 04, 2018 has approved the same.

The demerger proposed is part of an ongoing exercise undertaken by Kesoram over the past few months in further realigning and recalibrating operations. The objective has been to transform each business into entities that are market driven in their approach.

Kesoram Industries is engaged in the manufacture of cement, tyres, tubes, rayon, paper, heavy chemicals and spun pipes. The company also in the business activities of Tyres, Cement, Rayon, TP and Chemicals.

Related Kesoram Industries Ltd. Links:

Kesoram Industries Share Price

83.85 -0.75 (-0.89%) Mar 08, 18:37
1 Year Price Chart
Peers
Company Name CMP
Grasim Industries 1344.70
DCM Shriram 555.15
SRF 5658.25
Birla Corporation 862.90
Prism Johnson 116.15
View more..
Sensex vs Kesoram Industries
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

Callback