Sagar Cements sets preferential share issue price at Rs 800 per share

India Infoline News Service | Mumbai | November 28, 2016 12:22 IST

The board has fixed an issue price of Rs 800 per equity share (which includes a premium of Rs 790 per share) for the 6,11,986 equity shares of Rs 10 each of the company being issued for cash on a preferential basis, subject to receipt of further necessary approvals as may be required.

Sagar Cement
Sagar Cements Ltd is currently trading at Rs 726.55, up by Rs 106.65 or 17.2% from its previous closing of Rs 619.9 on the BSE.

The Board at its meeting held on November 28, 2016 inter-alia, fixed an issue price of Rs 800 per equity share (which includes a premium of Rs 790 per share) for the 6,11,986 equity shares of Rs 10 each of the company being issued for cash on a preferential basis, subject to receipt of further necessary approvals as may be required.

The scrip opened at Rs 610 and has touched a high and low of Rs 729.5 and Rs 605 respectively. So far 304260 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1,078.01 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 835 on 14-Oct-2016 and a 52 week low of Rs 350 on 18-Feb-2016. Last one week high and low of the scrip stood at Rs 636.8 and Rs 573.5 respectively.

The promoters holding in the company stood at 56.93 % while Institutions and Non-Institutions held 7.79 % and 35.28 % respectively.

The stock is currently trading above its 50 DMA.

***Note: This is a NSE Chart

 

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