Stocks To Watch, Jan 23: Stocks like Gravita India, Laxmi Organic Industries, Go Digit General Insurance, Paras Defence and Space Technologies, Piramal Pharma, Shiva Cement, Allcargo Terminals, Effwa Infra & Research, Sammaan Capital, and Jupiter Wagons will be in focus on January 23.
The initial share sale would be the cement sector's first major offering since Nuvoco Vistas' Rs 5,000 crore IPO in August 2021 and comes at a time when the segment is witnessing an m&a tussle between the Birla group and the Adani group.
Shiva Cement (SCL) a part of the JSW Group and supplies clinker to the parent entity. JSW Cement hold over 59 percent stake in Shiva Cement, as has infused funds into SCL.
JSW Cement holds a majority 59.32 percent stake in Shiva Cement and is named as the company's promoter.
Shiva Cement reported a weak set of Q2 numbers. In an interview to CNBC-TV18, RP Gupta of Shiva Cement discussed about the results and his outlook for the company.
JSW Cement increased its total shareholding in Shiva Cement to 53.47 percent from 50.33 percent earlier.
The stock rallied nearly 62 percent in previous six consecutive sessions after new promoter - JSW Cement raised its stake in the company to over 50 percent.
In the last four trading session the JSW Cement has acquired 61,34,697 equity shares (4.12 percent) in the company.
On June 30, 2017 JSW Cement bought 24,00,000 shares of Shiva Cement.