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Shree Cement jumps on deciding to expand Cement Grinding Unit capacity

Shree Cement is currently trading at Rs. 20083.55, up by 751.45 points or 3.89% from its previous closing of Rs. 19332.10 on the BSE.

The scrip opened at Rs. 19900.00 and has touched a high and low of Rs. 20625.30 and Rs. 19831.35 respectively. So far 527 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 20,625.30 on 30-Apr-2019 and a 52 week low of Rs. 13125.00 on 31-Oct-2018.

Last one week high and low of the scrip stood at Rs. 20625.30 and Rs. 18575.00 respectively. The current market cap of the company is Rs. 70314.93 crore.

The promoters holding in the company stood at 64.79%, while Institutions and Non-Institutions held 19.19% and 16.03% respectively.

Shree Cement has decided for capacity addition to be made at Village Patas in Pune District of Maharashtra. The proposed capacity addition is 3 MTPA Cement Grinding Unit. The period within which the proposed capacity is to be added is by September, 2020 ending. The investment required for capacity addition is Rs 525 crore.

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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