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06-Dec2018

Sagar Cements trades in green on the BSE

Sagar Cements is currently trading at Rs. 682.00, up by 8.00 points or 1.19% from its previous closing of Rs. 674.00 on the BSE.

The scrip opened at Rs. 694.45 and has touched a high and low of Rs. 694.50 and Rs. 680.45 respectively. So far 76 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1,161.40 on 04-Jan-2018 and a 52 week low of Rs. 575.00 on 24-Oct-2018.

Last one week high and low of the scrip stood at Rs. 694.50 and Rs. 658.40 respectively. The current market cap of the company is Rs. 1399.24 crore.

The promoters holding in the company stood at 50.05%, while Institutions and Non-Institutions held 17.51% and 32.44% respectively.

Sagar Cements (SCL) has received approval to invest a sum of Rs 150 crore in Satguru Cement (SCPL), Indore in the state of Madhya Pradesh, to set-up a green field cement manufacturing plant of 1 million ton capacity along with waste heat recovery power plant at a total cost of Rs 426 crore. SCL will be holding 65% in the equity share capital of SCPL on completion of the above projects. The Board of Directors of the Company at its meeting held on December 5, 2018 has approved the same.

Similarly, the company has also approved a proposal to invest a sum of Rs 108 crore in Jajpur Cements (JCPL), Jajpur in the state of Odisha in a phased manner to acquire 100% shareholding In It and to set-up through It a green field grinding unit of 1.5 million ton capacity in Jajpur at a total cost of Rs 308.10 crore.

Sagar Cements is a prominent player in the field of cement in Andhra Pradesh for over 3 decades adopting progressive manufacturing practices, whether it relates to maintaining high standards of quality of its products or development of its highly valued human resources or the need to keep the pollution to the barest minimum.


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