Shree Cement Ltd (SHREECEM)

Shree Cement Downgraded by Bernstein - 21 Sep, 2023

Shree Cement Ltd's stock is downgraded to 'underperform' by Bernstein brokerage with a reduced target price due to limited room for improvement in operating margins. The company has confirmed its participation in the UP International Trade Show.

Shree Cement Plans Private Placement of NCDs - 20 Sep, 2023

Shree Cement Ltd is planning to raise Rs 700 crore through the issuance of Non-Convertible Debentures (NCDs) on a private placement basis as part of its Rs 7,000-crore capital expenditure plan. The company's board will consider approving the issuance of NCDs on September 25.

Shree Cement Ltd Closes at ₹26,467.4 on BSE - 18 Sep, 2023

Shree Cement Ltd's stock opened at ₹26,401 and closed at ₹26,467.4 on the Bombay Stock Exchange (BSE) with a trading volume of 1,114 shares. The stock reached a high of ₹27,100 and a low of ₹26,397.45 during the day.

Shree Cement's Proposed NCDs Rating Reaffirmed by CARE Ratings - 14 Sep, 2023

CARE Ratings has reaffirmed the proposed Non-Convertible Debentures (NCDs) rating of Shree Cement Ltd for Rs 700 crore as CARE AAA; Stable.

BSE Largecap Index Rises 2%, Led by Gains in Shree Cement - 09 Sep, 2023

Shree Cement Ltd's stock saw gains as the BSE largecap index rose 2% on September 9, led by gains in several companies including Shree Cement.

Mixed Sentiments for Shree Cement Stock - 06 Sep, 2023

Shree Cement's share price is over Rs 25,000 apiece. Only 12 out of 44 analysts have a BUY rating on the stock. Despite this, investors have been heavily buying the stock after it took price hikes.

Shree Cement Sees Upgrades and Gains - 05 Sep, 2023

Nomura upgrades Shree Cement's rating to Buy and raises its target price per share. The stock also sees a significant gain of over 6%.

Shree Cement Receives Upgrade and Inaugurates Grinding Unit - 04 Sep, 2023

Shree Cement receives upgrade from Nomura, inaugurates new grinding unit, explores acquisitions, and reports Q1 profits.

Analysis of Shree Cement's Debt Management - 23 Aug, 2023

An article analyzes the balance sheet strength and debt management ability of Shree Cement Limited.

Ultratech and Shree Cement Report Higher Quarterly Profit - 07 Aug, 2023

Shree Cement Ltd's larger rival, Ultratech Cement, reported a higher quarterly profit due to strong demand. No unique news related to Shree Cement.

Shree Cement Faces Allegations of Tax Fraud and Acquisition Exit - 05 Aug, 2023

Shree Cement Ltd faced allegations of tax fraud worth at least ₹23,000 crore following an Income Tax raid. The company also reportedly exited acquisition talks with Sanghi Industries.

Shree Cement Withdraws from Capacity Addition Race - 03 Aug, 2023

Shree Cement Ltd has withdrawn from the FY26 capacity addition race to focus on its own expansion plans. The company had earlier announced a formal capacity addition along with Dalmia Bharat.

Shree Cement Accelerates Growth Plans - 31 Jul, 2023

Shree Cement's subsidiary, Shree Cement East, starts commercial production at clinker grinder unit in West Bengal. The company also reported Q1FY24 results, approved an investment worth Rs 7,000 crore for increasing capacity, and ventured into the RMC business.

Shree Cement Announces Capacity Expansion Plans - 28 Jul, 2023

Shree Cement Ltd announces a fresh capacity expansion of clinker/cement capacity by 7.3 million tonne per annum (mtpa)/12mtpa spread across North, Central and South regions with an estimated capex of Rs7000 crore to be completed by Q4FY25. However, the company's Q1FY24 earnings were impacted by weak prices in key markets and elevated input costs.

Shree Cement Reports Strong Q1 Results Amid Tax Survey - 27 Jul, 2023

Shree Cement reports strong Q1 results with a jump in standalone net profit and revenue. The company denies any wrongdoing amid an ongoing tax survey. Stock crosses 200-day SMA.

Shree Cement Reports Over Two-Fold Jump in Net Profit - 26 Jul, 2023

Shree Cement's Q1FY24 standalone net profit rose 84% YoY to Rs 581 crore. The company proposed capacity expansion worth Rs 7,000 crore. Shares climbed 3%. Consolidated net profit was up over two-fold at Rs 571.94 crore.

Shree Cement Chairman Becomes Richest Person in West Bengal - 23 Jul, 2023

Benu Gopal Bangur, Chairman of Shree Cement, has a net worth of Rs 55,000 crore, making him the richest person in West Bengal. The company is currently worth Rs 86,750 crore and led by his son Har Mohan Bangur.

Shree Cement Receives Inspection Order Amid Tax Evasion Allegations - 20 Jul, 2023

Shree Cement withdraws from Sanghi Cement acquisition, receives inspection order from Ministry of Corporate Affairs following allegations of tax fraud worth Rs 23,000 crore.

Shree Cement Receives Inspection Order from MCA - 19 Jul, 2023

Shree Cement has received an inspection order from the Ministry of Corporate Affairs under Section 206(5) of the Companies Act, 2013. The company will comply with the directions.

Shree Cement Faces Allegations of Tax Evasion - 27 Jun, 2023

Shree Cement Ltd faces allegations of tax evasion amounting to Rs 23,000 crore, which the company has refuted. The news caused a drop in share prices, but they later rose after the company dismissed the reports.