Burnpur Cement (BCL), one of the established cement manufacturers of Eastern India, has got fantastic listing today, has ended the day at Rs 49.70, up 314.17% over its offer price of Rs 12 per share. It had opened at Rs 15 and touched an intraday high of Rs 50.50 (a jump of 320.83%) on the NSE. It was a huge upmove by a smallcap stock and top performer amongst new listings.
It traded with volumes of 15,27,48,815 equity shares and turnover was at Rs 610 crore.
It traded with volumes of 18 crore shares during the day on the NSE and BSE as against total equity of the company of 4.3 crore shares, more than 4 times its total equity. Nearly 1.5 crore shares of Burnpur Cement changed hands on the bourses in multiple deals.
Ashok Gutgutia, VC & MD, Burnpur Cement informed CNBC-TV18 that the company sees its FY09 turnover at Rs 95 crore and PAT at Rs 10-11 crore. Gutgutia estimates the company’s FY08 sales at Rs 35 crore. Burnpur Cement’s new plant would be commissioned by October- November this year, he added.
It started the day at Rs 18.45 on the BSE and touched a high/low of Rs 49 and Rs 17.8, respectively. The stock ended at Rs 46.35. The trading volumes were 1,17,21,58,56 shares.
The company had offered its 219 lakh shares of Rs 10 each for cash at a premium of Rs 2 per share. The issue had subscribed 15.19 times.
Burnpur Cement had proposed a backward integration by setting up an 800 TPD capacity Clinkerisation and Cement grinding unit expandable to 1,600 TPD at Patratu in the Hazaribagh District of Jharkhand for manufacturing Clinker, Ordinary Portland Cement (OPC), Portland Pozzolona Cement (PPC) and Portland Slag Cement (PSC).
Source: Moneycontrol.com
Thursday, January 3, 2008
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