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14-Dec2012

Shree Cement trades in green on the BSE

Shree Cement is currently trading at Rs. 4468.05, up by 158.60 points or 3.68% from its previous closing of Rs. 4309.45 on the BSE.

The scrip opened at Rs. 4329.00 and has touched a high and low of Rs. 4494.10 and Rs. 4329.00 respectively. So far 1432 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4494.10 on 14-Dec-2012 and a 52 week low of Rs. 1881.00 on 21-Dec-2011.

Last one week high and low of the scrip stood at Rs. 4494.10 and Rs. 4251.30 respectively. The current market cap of the company is Rs. 15579.21 crore.

The promoters holding in the company stood at 64.79% while Institutions and Non-Institutions held 13.29% and 21.93% respectively.

CARE has assigned 'A1+' rating to Shree Cement's Rs 50 crore worth Short term debt (series II). The ratings continues to draw comfort from rich experience of the promoters and qualified  managerial team, strong brand image, operational efficiency due to backward integration  (limestone & power), improved performance of the cement unit, strong financial risk profile  marked by satisfactory profitability & low leverage, sizeable portfolio of surplus liquids funds and high energy efficient plants earning carbon credit.

However, the rating also factors in volatility in prices of crude oil and pet coke/coal, saleability risk associated with power unit, risk of ongoing projects and challenging operating environment for the domestic cement industry.

Shree Cement (SCL), belonging to B.G.Bangur - H. M. Bangur faction of Bangur family of Kolkata, is engaged in manufacturing of cement and power generation. SCL's eight cement plants in Rajasthan and one grinding unit in Uttrakhand have an aggregate capacity of 13.5 mn tonnes p.a. (PPC; OPC capacity -9 mn tonnes p.a.)

 


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