HeidelbergCement surges on concluding sale and transfer of cement grinding facility to JSW Steel

06 Jan 2014

HeidelbergCement is currently trading at Rs. 40.10, up by 0.60 points or 1.52% from its previous closing of Rs. 39.50 on the BSE.

The scrip opened at Rs. 39.40 and has touched a high and low of Rs. 41.00 and Rs. 39.40 respectively. So far 35,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 59.20 on 04-Jan-2013 and a 52 week low of Rs. 27.85 on 20-Aug-2013.

Last one week high and low of the scrip stood at Rs. 42.80 and Rs. 36.75 respectively. The current market cap of the company is Rs. 908 crore.

The promoters holding in the company stood at 68.55% while Institutions and Non-Institutions held 12.08% and 19.38% respectively.

 HeidelbergCement India has completed the sale and transfer of its cement grinding facility situated at Raigad in state of Maharashtra to JSW Steel, as a going concern on slump sale basis in accordance with Business Transfer Agreement executed between the company and JSW Steel on October 05, 2013. The aforesaid sale and transfer will take effect from the end of business hours on January 03, 2014.

Heidelberg Cement India is one of the leading producers of building materials worldwide. The company manufactures portland slag cement and portland pozzolana cement. The company has manufacturing facilities located at Ammasandra (Karnataka), Damoh (MP) and Jhansi (UP) and has total production capacity of 5.9 million tonnes per annum.

  

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