Kesoram Industries shines on getting nod to raise Rs 1200 crore

Kesoram Industries Ltd. | Cement & Construction Materials | Construction & Infrastructure | BSE: 502937 | NSE: KESORAMIND

18 Feb 2020 Evaluate

Kesoram Industries is currently trading at Rs. 44.15, up by 1.10 points or 2.56% from its previous closing of Rs. 43.05 on the BSE.

The scrip opened at Rs. 43.55 and has touched a high and low of Rs. 45.30 and Rs. 42.00 respectively. So far 32594 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 73.92 on 13-Mar-2019 and a 52 week low of Rs. 40.44 on 15-Oct-2019.

Last one week high and low of the scrip stood at Rs. 48.10 and Rs. 42.00 respectively. The current market cap of the company is Rs. 615.28 crore.

The promoters holding in the company stood at 53.13%, while Institutions and Non-Institutions held 3.78% and 37.90% respectively.

Kesoram Industries has received an approval for a fund raising plan of an amount aggregating up to Rs 1200 crore, by way of debt, issue of equity shares, convertible securities or any other securities, by way of one or more kinds of issue, including, public issue, rights issue, preferential issue and qualified institutional placement, as may be permitted under applicable law, subject to such regulatory/ statutory approvals as may be required, including approval of the shareholders of the Company. The Board of the company at its meeting held on February 18, 2020, approved the same.

Kesoram Industries is engaged in the manufacture of cement, tyres, tubes, rayon, paper, heavy chemicals and spun pipes.