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Birla Corporation gains as its cement plant gets license to use official API monogram
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Birla Corporation is currently trading at Rs. 1317.45, up by 5.30 points or 0.40% from its previous closing of Rs. 1312.15 on the BSE.
The scrip opened at Rs. 1327.95 and has touched a high and low of Rs. 1327.95 and Rs. 1311.40 respectively. So far 672 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1337.00 on 11-Sep-2023 and a 52 week low of Rs. 843.05 on 27-Feb-2023.
Last one week high and low of the scrip stood at Rs. 1327.95 and Rs. 1262.35 respectively. The current market cap of the company is Rs. 10141.60 crore.
The promoters holding in the company stood at 62.90%, while Institutions and Non-Institutions held 22.58% and 14.52% respectively.
Birla Corporation’s cement plant at Chanderia namely, Birla Cement Works has received license from American Petroleum Institute (API), to use official API monogram on manufactured products viz. API Well Cement Class G at Grade(s) HSR with effective from November 17, 2023, under the conditions in the official publications of the API and in accordance with the provisions of the License agreement.
The Company intends to participate in the tender process for sale of API Well Cement Class G at Grade(s) HSR to cater to the needs of the oil exploration entities.
Birla Corporation is primarily engaged in the manufacturing of cement as its core business activity. It has significant presence in the jute goods industry as well.
