Somany Ceramics rises on entering into JV agreement to set up tile manufacturing facility in Nepal
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Somany Ceramics is currently trading at Rs. 690.95, up by 2.55 points or 0.37% from its previous closing of Rs. 688.40 on the BSE.
The scrip opened at Rs. 700.00 and has touched a high and low of Rs. 700.05 and Rs. 689.05 respectively. So far 1801 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 818.00 on 12-Jul-2023 and a 52 week low of Rs. 445.40 on 23-Dec-2022.
Last one week high and low of the scrip stood at Rs. 700.05 and Rs. 663.40 respectively. The current market cap of the company is Rs. 2934.76 crore.
The promoters holding in the company stood at 54.78%, while Institutions and Non-Institutions held 23.49% and 21.72% respectively.
Somany Ceramics has entered into a Joint Venture agreement on August 22, 2023 with Other Shareholders and Cerapro Nepal (CNPL). The JV Agreement records the understanding of the parties in relation to operation of CNPL as a joint venture between the Company and Other Shareholders and terms of governance and management of CNPL. The joint venture will be for the purpose of establishing a tile manufacturing facility in Nepal for the making of wall and floor tiles and allied products in Nepal, and sale thereof.
Somany Ceramics is in the business of manufacturing and trading of tiles, Sanitaryware and Bath Fittings.
