Monday , 20 September 2021
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Shree Cement inches up as its arm gets nod to set up Clinker Grinding Unit in West Bengal

Shree Cement inches up as its arm gets nod to set up Clinker Grinding Unit in West Bengal

Shree Cement is currently trading at Rs. 30840.15, up by 196.15 points or 0.64% from its previous closing of Rs. 30644.00 on the BSE.

Shree Cement

The scrip opened at Rs. 30855.00 and has touched a high and low of Rs. 31441.05 and Rs. 30746.10 respectively. So far 703 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 32050.00 on 09-Apr-2021 and a 52 week low of Rs. 18214.40 on 24-Sep-2020.

Last one week high and low of the scrip stood at Rs. 31441.05 and Rs. 30323.15 respectively. The current market cap of the company is Rs. 111680.92 crore.

The promoters holding in the company stood at 62.55% while Institutions and Non-Institutions held 23.50% and 13.95% respectively.

Shree Cement’s Wholly Owned Subsidiary — Shree Cement East has received board’s approval for the proposal for setting up of a Clinker Grinding Unit at Village Digha & Parbatpur, in Purulia district of West Bengal. The Proposed capacity addition is 3.0 Million Ton Per Annum at an investment of Rs 750 crore.

The financing will be through equity contribution from Shree Cement. The cement demand supply situation in West Bengal appears quite favourable and thus, investment in cement plant in the State would be a viable proposition.

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.