BigBloc Construction rises as its arm starts commercial production at AAC Blocks plant in Wada
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Bigbloc Construction is currently trading at Rs. 125.80, up by 0.15 points or 0.12% from its previous closing of Rs. 125.65 on the BSE.
The scrip opened at Rs. 126.10 and has touched a high and low of Rs. 128.80 and Rs. 124.00 respectively. So far 5890 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 169.25 on 01-Dec-2022 and a 52 week low of Rs. 85.75 on 13-May-2022.
Last one week high and low of the scrip stood at Rs. 128.80 and Rs. 122.90 respectively. The current market cap of the company is Rs. 890.51 crore.
The promoters holding in the company stood at 72.27%, while Non-Institutions held 27.73% stake in the company.
BigBloc Construction’s wholly owned subsidiary -- Bigbloc Building Elements has commenced commercial production at its 5 lakh cubic meter per annum AAC Blocks plant at Wada in Palghar, Maharashtra. The company will be able to meet the growing demand of AAC blocks in Western India and strengthen its position in the markets including Maharashtra, Gujarat, Madhya Pradesh and Rajasthan with the commercial operation of the Wada plant. At full capacity, Wada plant is expected to generate revenues of Rs 200 crore per year and will employ around 350-400 people at the plant.
Total capex for the Wada project is estimated to be around Rs 70 crore for setting up 5 lakh cubic meter (cbm) per annum plant. The company has invested Rs 48 crore in the project so far for the commercial operations of Phase I. The company is eligible for 60% subsidy from the state government for the project and expects to generate 1 lakh units of carbon credits per annum from the Wada project.
Bigbloc Construction is engaged in the business of manufacturing of building blocks and AAC Bricks.
