Heidelberg Cement surges on the buzz of hiking prices by Rs 15-20 per bag in Feb 2014

25 Feb 2014

Heidelberg Cement India is currently trading at Rs. 35.40, up by 1.05 points or 3.06% from its previous closing of Rs. 34.35 on the BSE.

The scrip opened at Rs. 34.35 and has touched a high and low of Rs. 35.90 and Rs. 34.35 respectively. So far 31698 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 50.90 on 05-Jun-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. 35.90 and Rs. 33.05 respectively. The current market cap of the company is Rs. 804.48 crore.

The promoters holding in the company stood at 68.91% while Institutions and Non-Institutions held 11.65% and 19.45% respectively.

Heidelberg Cement has reportedly raised prices by Rs 15-20 per bag on a month-on-month (MoM) basis in February 2014 on the back of improving demand. The company is seeing demand traction in Uttar Pradesh (U.P) and Madhya Pradesh (M.P), while demand in Bihar is subdued.

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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