Pushing govt’s move for infrastructure projects and up-tick in rural housing projects, the cement stocks registered a good start during Monday’s trade.
Cement stocks such as Grasim Industries Ltd gained 1.51 percent at Rs 1,224.65 per share, while Ambuja Cements gained 1.33% at Rs 285.30 per share and UltraTech Cements gained 1.51% at Rs 4,189 per share on BSE at mid noon hours today.
At 12 PM, the BSE Sensex is trading at 31,905 up 217 points, while NSE Nifty is trading at 10,007 up 73 points. A total of 75 stocks clocked a fresh 52-week high in trade today, while 17 stocks registered a new 52-week low on the NSE.
The electronic manufacturing services company Dixon Technologies (India) Ltd intends to raise about Rs. 600.00 crore from its IPO which is opening tomorrow, 6 Sept.
The company expects to garner Rs 60.00 crore from the initial round of equity sale and Rs 540.00 crore from offer for sale (OFS) route. The IPO will open on Sept 6 and close on Sept 8 with a price band of Rs. 1,760 TO 1,766 share apiece with a face value of Rs. 10.00 each.
Dixon Technologies plans to repay debt of Rs 22.00 crore, invest Rs 7.57 crore in setting up its 7th manufacturing unit for LED TV in Tirupati. The company will utilize Rs 8.85 crore for producing parts of LED lights at its Dehradun plant.
Financially, the revenue of the company has grown by about 82% to Rs 2456 crore at the end of 2016-17, from Rs 1,344 crore a year ago, supported by the mobile phone segment. Dixon Technologies had registered about 20 % increase in its consolidated profit at Rs 50.4 crore in 2016-17, from Rs 42 crore in the previous fiscal.
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