Shree Cement gains on Rs 2,200 crore capex plan

Shree Cement is currently trading at Rs. 5844.95, up by 9.00 points or 0.15% from its previous closing of Rs. 5835.95 on the BSE. The scrip opened at Rs. 5950.00 and has touched a high and low of Rs. 5977.00 and Rs. 5802.00 respectively. So far 202 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 6699.70 on 07-Apr-2014 and a 52 week low of Rs. 3412.65 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 6699.70 and Rs. 5482.25 respectively. The current market cap of the company is Rs. 20450.84 crore. The promoters holding in the company stood at 64.79% while Institutions and Non-Institutions held 14.01% and 21.21% respectively. Shree Cement is planning to invest Rs 2,200 crore on capex in FY15. The company will set up Rs 1,700 crore Chhattisgarh unit, which will be starting operation by April 2015. Moreover, the company’s Bihar Grinding unit is expected to start operations in three months. Further, the company is planning to increase its total capacity to 20 mtpa by April 2015. The company’s current total capacity stood at 16.5 mtpa. Shree Cement (SCL), belonging to B G Bangur - H M Bangur faction of Bangur family of Kolkata, is engaged in manufacturing of cement and power generation. SCL’s eight cement plants in Rajasthan and one grinding unit in Uttrakhand have an aggregate capacity of 13.5 mn tonnes p.a. (PPC; OPC capacity -9 mn tonnes p.a.).