Aditya Birla Nuvo gains on BSE

Aditya Birla Nuvo Ltd. - (Amalgamated) | Diversified | Diversified | BSE: 500303 | NSE: ABIRLANUVO

09 Apr 2013 Evaluate

Aditya Birla Nuvo is currently trading at Rs 948.00, up by 10.55 points or 1.13% from its previous closing of Rs 937.45 on the BSE.

The scrip opened at Rs 944.00 and has touched a high and low of Rs 955.05 and Rs 944.00 respectively. So far 6855 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 1190.95 on 23-Jan-2013 and a 52 week low of Rs 726.00 on 04-Jun-2012.

Last one week high and low of the scrip stood at Rs 1009.60 and Rs 930.00 respectively. The current market cap of the company is Rs 11414.23 crore.

The promoters holding in the company stood at 53.76% while Institutions and Non-Institutions held 28.20% and 15.39% respectively.

Aditya Birla Nuvo will be divesting the company’s Carbon Black Business, on a going concern basis, by way of slump sale to SKI Carbon Black (India), an Aditya Birla Group Company, for a lumpsum consideration of Rs 1,451 crore as enterprise value. This is on the basis of an independent valuation carried out by Deloitte Touche Tohmatsu India, Mumbai.

The cash inflow from the divestment of the Carbon Black business will reduce debt and strengthen the company’s balance sheet. This will support growth plans and ensure greater focus on the other businesses of the company.

The company has taken the above step pursuant to the meeting of Committee of Directors held on April 06, 2013, where they had reviewed the carbon black business scenario both in the Indian and the global context. Given that multi-national tyre manufacturers prefer to engage with carbon black players that have global delivery capabilities, scale and global positioning in the Carbon Black sector has become increasingly important. The company’s carbon black business, by itself, accounts for merely 2% of the global industry capacity.

Moreover, in view of the company’s capital commitment towards funding the growth of its other businesses, it is extremely challenging for the company to become a global Carbon Black player

Aditya Birla Nuvo(Am Share Price

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Peers

Company Name	CMP
Grasim Industries	3062.70
DCM Shriram	1017.60
3M India	35426.55
Hindustan Foods	562.15
Balmer Lawrie & Co	177.75
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