Aditya Birla Nuvo shines on earmarking Rs 460 crore as capital expenditure

Aditya Birla Nuvo is currently trading at Rs. 1249.35, up by 6.25 points or 0.50% from its previous closing of Rs. 1243.10 on the BSE. The scrip opened at Rs. 1240.15 and has touched a high and low of Rs. 1257.55 and Rs. 1222.95 respectively. So far 20,000 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1290.10 on 04-Oct-2013 and a 52 week low of Rs. 996.40 on 22-Aug-2013. Last one week high and low of the scrip stood at Rs. 1283.85 and Rs. 1137.10 respectively. The current market cap of the company is Rs. 16,236.00 crore. The promoters holding in the company stood at 57.23% while Institutions and Non-Institutions held 27.44% and 12.89% respectively. Aditya Birla Nuvo (ABNL) has earmarked a capital expenditure plan of around Rs 460 crore for 2014-15. The company plans to invest about Rs 350 crore in the financial services business. Going forward, ABNL’s thrust is on capturing growth opportunities across its businesses. Aditya Birla Nuvo is a $4 billion conglomerate operating in the services and the manufacturing sectors, where it commands a leadership position. Its service sector businesses include Financial Services (Life Insurance, Asset Management, NBFC, Private Equity, Broking, Wealth Management and general insurance advisory), Fashion & Lifestyle (Branded apparels & Textiles) and Telecom.