Binani Cement surged 6.44% to Rs 86.75 at 14:14 IST on BSE on reports the company would invest about to Rs 2000 crore by 2012 for expansion of capacities both in India and overseas.
The stock hit a high of Rs 89.50 and a low of Rs 82.65 so far during the day. The stock had a 52-week high of Rs 130 on
The company’s current equity is Rs 203.10 crore. Face value per share is Rs 10.
The current price of Rs 86.75 discounts its Q4 March 2008 EPS of Rs 12.63, by a PE multiple of 6.87.
As per recent reports, this expansion includes setting up of one million tonnes per annum (MTPA) of grinding unit in Bharuch, two MTPA green field project in coastal Gujarat, doubling the cement capacities in China and Dubai and acquiring coal mines in Indonesia. A mix of debt and equity would fund the investment, reports added.
Binani Cement’s net profit rose 151.8% to Rs 64.13 on 80.3% growth in net sales to Rs 336 in Q4 March 2008 over Q4 March 2007.
The company is engaged in manufacturing and marketing cement and non-ferrous metal. The group operates in three segments: cement, zinc and by-products and glass fibre.
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