Prism Cement inches up on its division entering into JV with Small Tiles

22 Nov 2011

Prism Cement is currently trading at Rs. 44.05, up by 0.25 points or 0.57% from its previous closing of Rs. 43.80 on the BSE.

The scrip opened at Rs. 44.40 and has touched a high and low of Rs. 44.45 and Rs. 43.80 respectively. So far 28,299 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 59.85 on 27-Apr-2011 and a 52 week low of Rs. 39.00 on 19-Oct-2011.

Last one week high and low of the scrip stood at Rs. 45.25 and Rs. 43.30 respectively. The current market cap of the company is Rs. 2,217.00 crore.

The promoters holding in the company stood at 74.87% while Institutions and Non-Institutions held 6.30% and 18.83% respectively.

Prism Cement’s division - H&R Johnson (India) and the world's seventh largest tile company has entered into a joint venture (JV) with Small Tiles, a manufacturer of ceramic glazed floor tiles. With this venture, H&R Johnson (India) has acquired a 50 percent stake in Small Tiles. According to the joint venture, Small Tiles will manufacture and supply tiles to H&R Johnson (India). These tiles would primarily be focused in the Northern, Central, Eastern regions of India and the overseas market.

This would be Prism Cement’s fifth tile joint venture and Small Tile will now be supplying glazed floor tiles to the company. Floor tiles have been growing at a healthy rate in India and this joint venture would enable Prism Cement to cater to the growing demand. The plant capacity of Small Tiles is approximately 2.3 million square meters per annum. The plant has capability to manufacture floor tiles of 12” x 12”, 16” x 16”, and 24” x 24”.

H&R Johnson (India), a division of Prism Cement, is the undisputed market Leader in the tile industry since last 53 years across various product categories.

Prism Cement is one of India's leading integrated building materials companies; with a wide range from cement, ready-mixed concrete, tiles, bath products to kitchens.

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