Board of Sanghi Industries approves allotment of 73.26 lakh equity shares

NDTV, Hindustan Aeronautics, SJVN, Apollo Tyres, UltraTech Cement, JK Cement, Ion Exchange, Indo Count Industries, Dilip Buildcon, Chemfab Alkalis, West Coast Paper, Amara Raja Batteries, Sanghi Industries, Avanti Feeds, Centrum Capital

Stocks that will see action on December 5, 2022

Board of Sanghi Industries to issue 73.26 equity shares to promoter group entity

Announcing today that it has committed ₹550 crore to Sanghi Industries Group in the form of non-convertible debentures (NCDs), Kotak Special Situations Fund (KSSF), administered by Kotak Investment Advisors Limited (KIAL), made the announcement.

Kotak Special Situations Fund invests ₹550 Cr via NCDs in this cement company

The RWN reflects the risks to SIL’s credit profile in case of a delay in the consummation of the transaction.

Ind Ra downgrades Sanghi Industries & its NCDs to ‘IND BB+’; Stock plunges 5%

Buzzing stocks: Suzlon, Embassy Office REIT, Britannia, BPCL, Campus Activewear, Infibeam Avenues, Sanghi Industries, Natco Pharma, Ashoka Buildcon, Sterling and Wilson, M&M, Laxmi Organic, Hariom Pipe

Stocks that will see action on September 26, 2022

Shares of Nuvoco Vistas surged 11% to Rs 446.3, while Chennai-based India Cements gained 9% to Rs 289.9. Kesoram Industries, Mangalam Cement, Sanghi Industries, and Gujarat Sidhee Cement jumped over 5% each. Ambuja Cement shares also gained 9.3% to Rs 564.9.

Cement stocks rally on hopes of a ready mix of more deals

Dynemic Products Ltd Partly Paidup, Mindteck (India) Ltd, Sanghi Industries Ltd and Gayatri Projects Ltd are among the other gainers in the BSE’s ‘B’ group today, 12 August 2022.

Williamson Magor & Company Ltd leads gainers in ‘B’ group

Sanghi Industries announces change in directorate

The credit rating agency has downgraded the credit ratings of the company ‘IND A-’ from ‘IND A’. The Outlook is Negative.

India Ratings downgrades Sanghi Industries to ’IND A-/Negative; Stock under pressure

The downgrade reflects a slower-than-expected ramp up in sales, a delay in deleveraging and stretched liquidity position

Ind-Ra downgrades Sanghi Industries rating to ‘A-’ from ‘A’

Price return has been average, nothing exciting

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

The stock has a moderate number of red flags

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Sanghi Industries Limited is engaged in the manufacturing and sale of cement and clinker.