Birla Corporation surges on raising Rs 50 crore via commercial paper
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Birla Corporation is currently trading at Rs. 1307.40, up by 24.70 points or 1.93% from its previous closing of Rs. 1282.70 on the BSE.
The scrip opened at Rs. 1284.35 and has touched a high and low of Rs. 1308.70 and Rs. 1279.55 respectively. So far 6073 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1801.25 on 27-Feb-2024 and a 52 week low of Rs. 1,116.90 on 28-Aug-2023.
Last one week high and low of the scrip stood at Rs. 1308.70 and Rs. 1242.00 respectively. The current market cap of the company is Rs. 10043.81 crore.
The promoters holding in the company stood at 62.90%, while Institutions and Non-Institutions held 22.26% and 14.85% respectively.
Birla Corporation has raised Rs 50 crore through issuing of 1000 units of Commercial Paper of Rs 5 lakh each, at a discounted rate of 7.20% p.a. Tenure of the instrument of said commercial paper is 90 days and maturity date will be on November 18, 2024. The aforesaid commercial paper has been listed on BSE on August, 20, 2024.
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.
