Shiva Cement Limited to set up 1 MTPA cement grinding unit

The Board of Directors of Shiva Cement Limited has approved the setting up of a cement grinding unit with capacity of 1.0 MTPA by Bhushan Power and Steel Limited ("BPSL") in BPSL's premises at Sambalpur, Odisha for and on behalf of the Company, with a right available to the Company to subsequently acquire the said unit including the right to use the relevant portions of the underlying land parcel on which the said cement grinding unit is to be set up, for an aggregate purchase consideration of up to INR 380 crores (Indian Rupees Three Hundred Eighty Crores Only) (including, if considered appropriate, payment of advance purchase consideration from time to time to BPSL to facilitate the setting up of aforesaid cement grinding unit), ("Proposed Transaction").

Shares of SHIVA CEMENT LTD. was last trading in BSE at Rs. 49.10 as compared to the previous close of Rs. 47.74. The total number of shares traded during the day was 290973 in over 984 trades.

The stock hit an intraday high of Rs. 49.59 and intraday low of 47.21. The net turnover during the day was Rs. 14145148.00.

Source : Equity Bulls

Keywords

SHIVACEMENT INE555C01029 1MTPA CementGrindingUnit Sambalpur BhushanPowerandSteel