ITD Cementation India Ltd (NSE: ITDCEM): The price of ITD Cementation India Ltd’s share saw a stormy rise on Friday (September,20). The rise in share of the company was noticed after the publication of a report.
According to the report, Adani Group has emerged as the biggest contender to buy a 46.64 percent stake in the company’s promoters. This one news has given wings to the company’s share.
Upper Circuit In The Company’s Share
ITD Cementation India Ltd’s share opened at Rs 521 level on Friday in BSE. But shortly after this, the company’s share got an upper circuit of 20 percent.
Due to this the stock price reached the level of Rs 565.85. Let us tell you, there has not been much change in the price of the company’s share since then.
This deal has been discussed since July. Italian Thai Development Public Limited Company had talked about selling its ownership stake in ITD Cementation India Ltd.
However, till now the whole process is in its initial stages. No final decision has been taken.
ITD Cementation Boom In The Stock Market
In October 2023, the price of the company’s share was Rs 87.10. Since then, the stock has yielded a profit of 189 % for investors.
The shareholders who held shares of the company in the past year have earned an average profit of 114 % so far.
At the same time, this multibagger stock has given a return of 90 percent in 2024. Let us tell you, that the company’s 52-week high in BSE is Rs 589.95.
The stock was ex-dividend traded in the last month. Then, the company paid a dividend of 170 rupees per share. Let us inform you that the company hasn’t offered bonus shares until this point.
Quick Fact
| Company name | ITD Cementation India |
|---|---|
| Share rise date | September 20 |
| Share rise reason | Adani Group’s interest in stake |
| Promoter stake | 46.64% |
| Opening share price | ₹521 |
| Upper circuit | 20% |
| Upper circuit price | ₹565.85 |
| 52-week high | 589.95 rupees |
| Deal stage | Initial stages |
| October 2023 price | ₹87.10 |
| Total return since October 2023 | 189% |
| Return in 2024 | 90% |
| Average past year profit | 114% |
| Dividend | ₹170 per share |
Disclaimer: The website and its content are for informational purposes only and should not be considered investment advice.
. The stock price reached the level of Rs 565.85.){kind=link}