The share price of this small-cap cement firm gained by 5 percent to an Intraday high of Rs 308.1 per share on Friday after a Foreign Institutional Investor (FII) bought a stake in the company.
With a market capitalization of Rs 9,193.10 crores, the shares of India Cements Ltd went up by 5 percent, trading at Rs 296.65 apiece on Friday’s afternoon session. Also, today’s high price of the stock is Rs 308.1 apiece and the previous closing price of the stock is Rs 293 apiece.
What happened: According to the NSE bulk deal data of 27th June 2024, The FII Societe Generale has bought 44,03,226 units of equity shares in India Cements Ltd at a price of Rs 288.51 per share. Domestic Institutional Investor Authum Investment & Infrastructure Limited also bought 26,20,000 units of equity shares at a price of Rs 286.90 apiece in India cements.
Financials: Reviewing the financials of India Cements Ltd on a year-on-year basis, the revenues declined by 8.8 percent from Rs 5,608 crores in FY23 to Rs 5,112 crores in FY24. In the same time frame, the net losses widened from Rs 125 cores to Rs 227 crores.
Share price movement: The shares of this company generated an overall return of 38.28 percent over the past year and 15.08 percent over the past 6 months.
Shareholding pattern: As of March 2024, the firm’s shareholding pattern stood at 28.42 percent for promoters, 49.83 percent for the public, 13.27 percent for the foreign institutional investors, and 8.47 percent for the domestic institutional investors.
India Cements ltd has a total of 8 operating units which are spread across regions like Tamil Nadu, Telangana, Andhra Pradesh, and Rajasthan. It is capable of producing 15.55 million tonnes of cement per year. Additionally, they have 2 cement grinding plants, which are located in Tamil Nadu and Maharashtra.
About the company: India Cements Ltd is a leading cement manufacturing company headquartered in Chennai. It was incorporated in the year 1946. Apart from Manufacturing cement India Cements Ltd is also in the business of shipping, captive power, and coal mining.
Written By Zahal
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