Udaipur Cement plunges 1.8%; promoters to sell 40.3 mn shares via OFS

The scrip opened at Rs. 14.9 and has touched a high and low of Rs. 14.9 and Rs. 14.75 respectively.

Dec 03, 2015 05:12 IST India Infoline News Service

Udaipur Cement Works plunged 1.8% to Rs.14.80 on BSE. JK Lakshmi Cement Limited, Florence investech Limited and JK Paper Limited, part of the Promoter Group of Udaipur Cement Works Limited, ("Seller") 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 ("Sale Shares") on December 04, 2015, exclusively through the Seller's broker, on the separate window provided by BSE Limited ("BSE") 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 has touched a high and low of Rs. 14.9 and Rs. 14.75 respectively. So far 28,761 (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 has 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 is currently trading below its 100 DMA.

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