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01-Dec-2023 15:30 Hrs IST |
UltraTech Cement surges as the company to acquire Kesoram Industries' cement business
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<p style="text-align: justify;">Ultratech Cement is currently trading at Rs. 9031.50, up by 30.85 points or 0.34% from its previous closing of Rs. 9000.65 on the BSE.</p><p style="text-align: justify;">The scrip opened at Rs. 9100.05 and has touched a high and low of Rs. 9152.00 and Rs. 8976.45 respectively. So far 23669 shares were traded on the counter.</p><p style="text-align: justify;">The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 9152.00 on 1-Dec-2023 and a 52 week low of Rs. 6605.45 on 27-Jan-2023.</p><p style="text-align: justify;">Last one week high and low of the scrip stood at Rs. 9152.00 and Rs. 8582.70 respectively. The current market cap of the company is Rs. 260074.94 crore.</p><p style="text-align: justify;">The promoters holding in the company stood at 59.96%, while Institutions and Non-Institutions held 31.74% and 7.78% respectively.</p><p style="text-align: justify;">UltraTech Cement is all set to acquire the cement business of BK Birla Group's flagship company Kesoram Industries in an all-share deal, with a business valuation of around Rs 7,600 crore, including debt. For this transaction, UltraTech will issue 59,74,301 new equity shares to the shareholders. This will increase its equity capital to Rs 294.66 crore, consisting of 29.47 crore equity shares of Rs 10 each. The transaction will provide UltraTech with the opportunity to expand its footprint in the highly fragmented, competitive and fast-growing western and southern markets in the country. The transaction is expected to be consummated within 9-12 months subject to regulatory approvals.</p><p style="text-align: justify;">Kesoram currently has two integrated cement units at Sedam (Karnataka) and Basantnagar (Telangana) with a total installed capacity of 10.75 million tonnes per annum (MTPA) as well as a 0.66 MTPA packing plant at Solapur, Maharashtra. In 2022-23, Kesoram's turnover from cement operations was Rs 3,533.75 crore. Kesoram Industries' board of directors has approved a Composite Scheme of Arrangement amongst the Company, and UltraTech Cement and their respective shareholders and creditors for demerger of its cement division into UltraTech and reduction and cancellation of the preference share capital of the Company.</p><p style="text-align: justify;">UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India.</p><div style="text-align: justify;"><br></div>
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01-Dec-2023 15:07 Hrs IST |
Seamec zooms on entering into MoA with Ships & Boats Oil Services
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<p style="text-align: justify;">Seamec is currently trading at Rs. 936.80, up by 28.00 points or 3.08% from its previous closing of Rs. 908.80 on the BSE.</p><p style="text-align: justify;">The scrip opened at Rs. 912.05 and has touched a high and low of Rs. 938.95 and Rs. 907.55 respectively. So far 3264 shares were traded on the counter.</p><p style="text-align: justify;">The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1100.00 on 13-Dec-2022 and a 52 week low of Rs. 563.30 on 29-Mar-2023.</p><p style="text-align: justify;">Last one week high and low of the scrip stood at Rs. 938.95 and Rs. 899.80 respectively. The current market cap of the company is Rs. 2364.78 crore.</p><p style="text-align: justify;">The promoters holding in the company stood at 72.04%, while Institutions and Non-Institutions held 2.67% and 25.29% respectively.</p><p style="text-align: justify;">Seamec has entered into a Memorandum of Agreement (MoA) with Ships & Boats Oil Services for Purchase of Vessel ‘SEA PEARL', with Class: RINA. The year of build is 2011 and Shipyard is ABG Surat Shipyard – Surat. The Purchase Price of the Vessel will be $7 million. The acquisition will be completed by around the third week of January, 2024 as per the terms of agreement, upon completion of required formalities.</p><p style="text-align: justify;">Seamec is engaged in the business of operating multi-support vessels for diving and for providing underwater/sub-sea engineering services, deep sea diving, and inspection of underwater structures, repairs and maintenance of offshore platform fire-fighting services and rescue operations.</p><div style="text-align: justify;"><br></div>
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01-Dec-2023 14:57 Hrs IST |
SSWL jumps on achieving 9.14% growth in net turnover during November 2023
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01-Dec-2023 14:43 Hrs IST |
Atul Auto rides high on reporting rise in November sales
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01-Dec-2023 14:23 Hrs IST |
JK Cement rises on acquiring equity shares in Nay Energy through right issue
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01-Dec-2023 14:07 Hrs IST |
Cantabil Retail India trades higher on the BSE
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01-Dec-2023 13:00 Hrs IST |
Zydus Lifesciences gains on getting USFDA's final approval for Ivabradine Tablets
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01-Dec-2023 12:30 Hrs IST |
Flair Writing Industries lists with 65.46% premium on the BSE
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01-Dec-2023 12:05 Hrs IST |
Madhuveer Com 18 Network gains on getting nod to acquire stake in Navkar Events
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01-Dec-2023 11:50 Hrs IST |
M&M inches up on reporting 21% rise in overall auto sales in November
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