Ashapura Minechem surges on getting nod to sell Chamotte Plant to Orient Abrasives
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Ashapura Minechem is currently trading at Rs. 135.20, up by 3.45 points or 2.62% from its previous closing of Rs. 131.75 on the BSE.
The scrip opened at Rs. 132.45 and has touched a high and low of Rs. 136.55 and Rs. 132.45 respectively. So far 34966 shares were traded on the counter.
The BSE group 'B ' stock of face value Rs. 2 has touched a 52 week high of Rs. 156.55 on 22-Apr-2022 and a 52 week low of Rs. 72.70 on 16-Nov-2022.
Last one week high and low of the scrip stood at Rs. 138.25 and Rs. 130.10 respectively. The current market cap of the company is Rs. 1229.57 crore.
The promoters holding in the company stood at 45.33%, while Institutions and Non-Institutions held 17.13% and 37.54% respectively.
Ashapura Minechem has received an approval for sale/transfer of its Chamotte Plant to Orient Abrasives, an Associate Company, subject to the approval of Shareholders by way of postal ballot. The company shall receive consideration of Rs 21 crore for the said sale/transfer. The Board of Directors of the company at its meeting held on April 21, 2023 has approved the same.
Ashapura Minechem is the mine owner and exporter of bentonite. The company also has business interests in iron ore, bleaching clay, kaolin and barites. They have also recently diversified into bauxite.
