Shree Cement gains on getting nod to set up integrated cement plant in Andhra Pradesh

Shree Cement is currently trading at Rs. 18161.90, up by 137.10 points or 0.76% from its previous closing of Rs. 18024.80 on the BSE.

shree cement jumps on deciding to expand cement grinding unit capacity
shree cement jumps on deciding to expand cement grinding unit capacity

The scrip opened at Rs. 18001.00 and has touched a high and low of Rs. 18161.90 and Rs. 17900.00 respectively. So far 188 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 31441.05 on 15-Sep-2021 and a 52 week low of Rs. 17,900.00 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 19479.95 and Rs. 17900.00 respectively. The current market cap of the company is Rs. 65165.62 crore.

The promoters holding in the company stood at 62.55%, while Institutions and Non-Institutions held 23.36% and 14.09% respectively.

Shree Cement’s Board of Directors has approved setting up of an Integrated Cement Plant at Village Dachepalli, Tehsil Pedagarlapadu in Guntur District of Andhra Pradesh.

The investment required for the plant is approximately Rs 2500 crore. The existing cement capacity of the Company is 46.40 million ton per annum (MTPA). During the year 2021-22, the utilization rate was 64%.

Shree Cement is a rapidly growing Company focused on its core business of Cement & Power. Currently, its manufacturing operations are spread over North and Eastern India across six states.

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