Sagar Cements gains on planning to setup new cement manufacturing plant
Sagar Cements is currently trading at Rs. 678.75, up by 0.75 points or 0.11% from its previous closing of Rs. 678.00 on the BSE.
The scrip opened at Rs. 678.10 and has touched a high and low of Rs. 685.00 and Rs. 674.55 respectively. So far 199 shares were traded on the counter.
The BSE group `B` stock of face value Rs. 10 has touched a 52 week high of Rs. 1161.40 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. 714.00 and Rs. 613.60 respectively. The current market cap of the company is Rs. 1376.08 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 is planning to expand the company`s market reach by setting-up of an integrated cement manufacturing plant and a grinding unit of appropriate capacities in suitable locations and to raise funds through one or more modes available to the company for the said and other purposes.
The Board of Directors of the Company at its meeting to be held on December 05, 2018 to consider the same.
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.