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18-Aug2016

Sagar Cements advances on buzz to invest Rs 145 crore for expansion

Sagar Cements is currently trading at Rs. 620.00, up by 17.65 points or 2.93% from its previous closing of Rs. 602.35 on the BSE.

The scrip opened at Rs. 612.35 and has touched a high and low of Rs. 622.00 and Rs. 611.00 respectively. So far 1,629 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 719.00 on 28-Jun-2016 and a 52 week low of Rs. 305.10 on 25-Aug-2015.

Last one week high and low of the scrip stood at Rs. 622.00 and Rs. 580.00 respectively. The current market cap of the company is Rs. 1,078.06 crore.

The promoters holding in the company stood at 56.93%, while Institutions and Non-Institutions held 7.89% and 35.18% respectively.

Sagar Cements is reportedly planning to invest around Rs 145 crore in its expansion. The Hyderabad-based company is looking at around Rs 100 crore capex this year and during next fiscal it could be around Rs 45 crore.

This will include around Rs 66 crore being incurred for acquisition and other associated costs of a 1,81,500 tonne grinding unit owned by Toshali Cements which is located in Bayyavaram, Vizag district of Andhra Pradesh. Post acquisition, the company has proposes to scale up capacity to 3,00,00 tonnes per annum with an additional capital expenditure.

Sagar Cements is one of the most modern mini cement plants in the state of Andhra Pradesh. The plant is based on Dry Process Rotary Kiln Technology that is used in 'Standard Quality' cement companies.



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