Udaipur Cement declines 7%; promoters to sell shares

JK Lakshmi Cement and JK Paper part of the Promoter Group of Udaipur Cement Works has submitted to BSE a Notice of Offer for Sale of 4,02,63,413 equity shares representing 13.64% of the equity share capital of the company on Dec 4.

Dec 03, 2015 10:12 IST India Infoline News Service

Udaipur Cement Works tumbled 7% to Rs.14.01 on BSE. JK Lakshmi Cement Limited, Florence investech Limited and JK Paper Limited, part of the Promoter Group of Udaipur Cement Works Limited has submitted to BSE a Notice of Offer for Sale of 4,02,63,413 equity shares of the face value of Rs. 4/- each, representing 13.64% of the equity share capital of the Company on December 04, 2015, exclusively through the Seller's broker, on the separate window provided by BSE Limited for this purpose. The Sale shall take place at the separate window of the Stock Exchange and shall commence on December 04, 2015 at 9.15 a.m. Indian Standard Time and shall close on December 4.

The scrip opened at Rs. 14.9 and touched a high and low of Rs. 14.9 and Rs. 13.71 respectively. A total of 173,418 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 445.17 crore.

The BSE group 'B' stock of face value Rs. 4 touched a 52 week high of Rs. 20.45 on 08-Dec-2014 and a 52 week low of Rs. 10.3 on 09-Jun-2015. Last one week high and low of the scrip stood at Rs. 16.3 and Rs. 14.2 respectively.

The promoters holding in the company stood at 88.64 % while Institutions and Non-Institutions held 3.44 % and 7.92 % respectively.

The stock traded below its 100 DMA.

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