Ashapura Minechem trades higher on the bourses

Ashapura Minechem Ltd. | Mining & Minerals | Metals & Mining | BSE: 527001 | NSE: ASHAPURMIN

04 Dec 2013 Evaluate

Ashapura Minechem is currently trading at Rs 67.40, up by 1.90 points or 2.90% from its previous closing of Rs 65.50 on the BSE.

The scrip opened at Rs 67.90 and has touched a high and low of Rs 70.95 and Rs 65.35 respectively. So far 1294099 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 70.95 on 04-Dec-2013 and a 52 week low of Rs 27.80 on 28-Mar-2013.

Last one week high and low of the scrip stood at Rs 65.50 and Rs 40.60 respectively. The current market cap of the company is Rs 559.33 crore.

The promoters holding in the company stood at 46.46% while Institutions and Non-Institutions held 0.23% and 53.31% respectively.

Merrill Lynch has acquired stake in the mining company Ashapura Minechem through open market. Merrill Lynch Capital Markets Espana S.A. SVB has bought 6,52,464 shares of the company at Rs 57.91 on the NSE.

Meanwhile, Albula Investment Fund had acquired 9.47% stake or 7.86 million shares in Ashapura Minechem on November 29 from Volclay International through bulk deal on BSE and NSE.

Volclay International Corporation sold shares via two block deals - one block deal was of 37,50,285 equity shares at Rs 45.75 apiece on the BSE and other one was of 41,07,060 shares at Rs 48.70 on the NSE.

The Ashapura Group also has business interests in iron ore, bleaching clay, kaolin and barites. The group has mining and mineral processing units located at Belgium, Nigeria, Oman and Malaysia.