Somany Ceramics jumps on plan to invest Rs 200 crore for capacity expansion

24 Aug 2012

Somany Ceramics is currently trading at Rs. 42.70, up by 1.55 points or 3.77% from its previous closing of Rs. 41.15 on the BSE.

The scrip opened at Rs. 43.95 and has touched a high and low of Rs. 43.95 and Rs. 41.65 respectively.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 51.30 on 01-Nov-2011 and a 52 week low of Rs. 28.50 on 09-Jan-2012.

Last one week high and low of the scrip stood at Rs. 46.45 and Rs. 41.00 respectively. The current market cap of the company is Rs. 147 crore.

The promoters holding in the company stood at 63.31% while Institutions and Non-Institutions held 0.79% and 35.90% respectively.

Somany Ceramics is planning to invest Rs 200 crore over the next five years for capacity expansion in Gujarat and Karnataka. It is also planning to acquire a tile-making firm at Morbi in Rajkot district of Gujarat this year. For setting up a new plant, the company has purchased about 50 acres of land in Karnataka and will invest Rs 100 crore on the facility. Another Rs 100 crore will be invested for expanding capacities at Kadi.

Somany Ceramics is a pioneering manufacturer, supplier and exporter of Floor Tiles, Wall Tiles, Sanitary Ware including urinals, basins, etc. Somany strives to bring its customers floor, wall, vitrified, ceramic, porcelain and innovative tiles that are the very latest in the world

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