SANGHIIND.NSE Sanghi Industries Ltd.
47
89.35
2.30
(2.64%)
| Watchers | 47 |
| 52-Wk Low | 65.70 |
| 52-Wk High | 156.00 |
| Market Cap | 23.12B |
| Volume | 395,520.00 |
| 52-Wk High | 156.00 |
| 52-Wk Low | 65.70 |
Ambuja Cements shares in green after firm offloads 2% stake in Sanghi IndustriesMoneycontrol • about 2 months ago
Ambuja Cements offloaded a 2 percent stake in Sanghi Industries to comply with the minimum public shareholding norms.
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Ambuja Cements' move necessitated in order to comply with minimum public shareholding norms.
Concern among minority shareholders about the Master Supply and Service Agreement proposed by Ambuja Cements is the main reason for the fall in share prices. They believe Sanghi Industries’ control on profitability will be limited under the agreement.
Investors in Grasim Industries and Tourism Finance Corporation further continued share sale in these companies.
Sanghi Industries signed a contract with Ambuja Cements to supply its entire production to Ambuja and ACC at a fixed 10 percent markup over the production cost.
The move is expected to make the company EBITDA positive.