Shree Cement surges on emerging as the highest bidder for Datima Coal Mine Block in Chattisgarh
Shares of Shree Cement Limited have given more than 15 per cent in last six months.
Highest Bidder For Datima Coal Mine Block
Shree Cement has emerged as the highest bidder for Datima Coal Mine Block, located in Surajpur Tehsil in Surguja District of State of Chattisgarh under the 15th Tranche of Auction of coal block conducted by Ministry of Coal, Govt. of India on February 27, 2023. The mine has geological reserves of 13.30 million tonnes. The official confirmation from Govt. of Chhattisgarh declaring Shree Cement as the winner of the above deposit is awaited.
The company has participated in the coal block auction with the intent of creating fuel security through long-term fuel supply sourcing options for its operations while having the flexibility to use the coal for other commercial purposes as well.
Share price movement of Shree Cement Limited
Today, the stock opened at Rs 25,702, with a high and low of Rs 26,230.70 and Rs 25,649. The stock closed trading at Rs 25,920.95, up by 0.60%.
In the last 6 months, the shares of the company have given about 19% returns and on a YTD basis, the stock has given about 9% returns.
The stock has a 52-week high of Rs 27,013 and a 52-week low of Rs 17,900. The company has a ROCE of 16.6% with a market capitalisation of Rs 92,744 crore.
Company profile
Shree Cement the leading cement manufacturer in North India was incorporated in the year 1978. It has a huge cement capacity. Its cement plants are located at Beawar, Ras, Khushkhera, Jobner and Suratgarh in Rajasthan and Laksar in Uttarakhand. The company follows a multibrand strategy and sells cement under the highly recognized brands of Shree Ultra, Bangur and Rockstrong.
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