Kajaria Ceramics strengthens on plan to acquire 51% stake in Taurus Tiles

Kajaria Ceramics is currently trading at Rs 490.00, up by 24.65 points or 5.30% from its previous closing of Rs. 465.35 on the BSE. The scrip opened at Rs 474.40 and has touched a high and low of Rs 520.80 and Rs 465.00 respectively. So far 226901 shares were traded on the counter. The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 520.80 on 07-May-2014 and a 52 week low of Rs 199.50 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs 476.70 and Rs 440.00 respectively. The current market cap of the company is Rs 3514.64 crore. The promoters holding in the company stood at 52.09% while Institutions and Non-Institutions held 29.47% and 18.44% respectively. Kajaria Ceramics’ board of directors at its meeting held on May 07, 2014, has approved to acquire 51% stake in Taurus Tiles, Morbi (Gujarat) by subscribing to the equity shares of the company. Taurus Tiles is in the process of setting up a plant having 5 MSM annual capacity of Polished Vitrified Tiles. Kajaria Ceramics manufactures more than 400 options of flooring solutions such as wall tiles, floor tiles, vitrified tiles and Spanish and Italian tiles. The tiles major market these products under the brand name Kajaria, Kerrogres, Eternity, Aparici, Saloni ceramica, Ergon and GRESPANIA Ceramica.