Sanghi Industries Ltd.

NSE: SANGHIIND | BSE: 526521 | ISIN: INE999B01013 |Industry: Cement & Cement Products
|Mid-range Performer

Sanghi Industries Ltd.    
19 Aug 2019
50.65
-3.15%
Rakesh Jhunjhunwala's RARE Enterprises meets with Sanghi Industries

Rakesh and Rekha Jhunjhunwala's investment company RARE Enterprises will be meeting with senior management of cement firm Sanghi Industries on August 20th. Sanghi Industries according to management comments, is looking to increase its cement grinding capacity from 4.1 mt in the current scenario to 8.2 mt by FY21, by adding one addiitonal line of clinker unit, as well as split grinding units of 2 mt each in Kutch and Surat.

The company saw a reasonably strong June quarter performance, but volumes declined 12% YoY in the quarter due to what it said was demand pressure in Gujarat (Gujarat accounts for over 85% of the company's sales mix), driven by water shortage issues, elections and labor shortages. 

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Sanghi Industries Ltd. has an average target of 69.67 from 3 brokers.
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