Tuesday 16 April 2013

Reliance Infrastructure soars as its arm enters into Amravati market

             Reliance Infrastructure is currently trading at Rs. 362.25, up by 7.50 points or 2.11% from its previous closing of Rs. 354.75 on the BSE.
             The scrip opened at Rs. 351.10 and has touched a high and low of Rs. 364.90 and Rs. 351.00 respectively. So far 4, 88,000 shares were traded on the counter.
             The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 593.80 on 18-Apr-2012 and a 52 week low of Rs. 315.00 on 28-Mar-2013.

             Last one week high and low of the scrip stood at Rs. 360.40 and Rs. 321.80 respectively. The current market cap of the company is Rs. 9,431 crore.

            The promoters holding in the company stood at 48.53% while Institutions and Non-Institutions held 36.62% and 14.30% respectively.

            Anil Ambani-led Reliance Infrastructure’s business unit, Reliance Cement Company (RCC) has entered into the Amravati market in Maharashtra, in order to sell the building material produced from its Butibori plant in the state. RCC is also planning to enter into Wardha, Chandrapur and Bhandara markets of the western state in the near future.

           At present, the entity is setting up two plants of five million tonnes annual capacity each in Madhya Pradesh and Maharashtra. It will be entering these markets from limited production that has already started at its Maharashtra plant. The Madhya Pradesh unit is likely to go on stream within the current fiscal. The company is investing Rs 6,000 crore in these two plants. [via]

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