Ambuja Cements gains on receiving nod for additional annual clinker capacity of 1.4 million tones

12 Dec 2018

Ambuja Cements is currently trading at Rs. 215.85, up by 3.45 points or 1.62% from its previous closing of Rs. 212.40 on the BSE.

The scrip opened at Rs. 212.90 and has touched a high and low of Rs. 218.35 and Rs. 212.90 respectively. So far 101955 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 280.00 on 08-Jan-2018 and a 52 week low of Rs. 188.50 on 31-Oct-2018.

Last one week high and low of the scrip stood at Rs. 218.35 and Rs. 203.00 respectively. The current market cap of the company is Rs. 42860.15 crore.

The promoters holding in the company stood at 63.48%, while Institutions and Non-Institutions held 29.13% and 7.39% respectively.

Ambuja Cements’ Board has approved an additional annual clinker capacity of 1.4 million tonnes (taking the total clinker capacity to 3.1 million tonnes), additional cement grinding capacity of 1.8 million tonnes and Captive Power Plan & Waste Heat Recovery System at Marwar Mundwa at an additional estimated cost of Rs 960 crore taking the total investment to Rs 2,350 crore. The projects are proposed to be funded through internal accruals. With this expansion company's total cement capacity will increase to 31.5 million tonnes and this project will allow the company to strengthen its market presence.

Earlier, the company had invested Rs 1,390 crore for the first phase of the Greenfield Clinkerisation Project of annual capacity of 1.71 million tonnes at Marwar Mundwa in the State of Rajasthan.

Ambuja Cements is engaged in manufacturing and marketing of cement and clinker for both domestic and export markets.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323