Ramco Ind & Ramco Cements rise up to 4% in trade; What's driving the stocks

Ramco Industries' and Ramco Cements' share price gained up to 3.8 per cent in Friday's trade on BSE. The stock rose after Ramco Industries acquired 3,20,000 shares in its associate company, Ramco Cements Limited for a consideration of Rs 29.34 crore.

 

Around 12:09 PM, Ramco Industries shares were up 3.54 percent at Rs 289.95 per share on BSE and Ramco Cements shares were up 3.73 per cent at Rs 948.6 per share. In comparison, the BSE Sensex was up 0.97 per cent at 77,901.63. 

 

"We would like to inform you that we today acquired 3,20,000 shares of M/s. The Ramco Cements Limited for a consideration of Rs 29.34 crore," the filing read.

 

 

The move comes after the Ramco Industries' board in a meeting on November 11, 2024, approved investment by purchase of shares of Ramco Cements, for a value of up to Rs 160 crores in one or more tranches through stock exchanges.

 

Prior to this, on November 18, Ramco Industries had bought 4,66,600 shares of Ramco Cements which were worth Rs 41.95 crore.

 

Ramco Industries is a diversified Indian company, part of the Ramco Group, and primarily operates in the building materials and construction industry. Established in 1965, the company is known for manufacturing products such as fiber cement sheets, roofing solutions, and pre-engineered buildings. These products are widely used in residential, commercial, and industrial applications due to their durability, cost-effectiveness, and versatility.

 

It is a major player in the Indian market for fiber cement products, offering various solutions like roofing sheets, wall panels, and accessories. The company is also involved in reinforced cement concrete (RCC) pipes and construction chemicals, catering to the infrastructure and civil engineering sectors. Its products are known for their high strength, weather resistance, and eco-friendliness.

 

Ramco Cements, founded in 1975, manufactures cement and is also a part of the Ramco Group, which has diversified interests in various sectors like textiles, cement, and software. Ramco Cements produces different types of cement, including Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), and Ready Mix Concrete (RMC), serving both residential and industrial markets.

 

In the past one year, Ramco Cements shares have gained 29.2 per cent and Ramco Cements has lost 5.9 per cent against Sensex's rise of 17 per cent.