Hot Pursuit     26-Mar-24
Sanghi Inds slides after Ambuja Cements sells 2% stake to achieve minimum public shareholding
Sanghi Industries fell 1.41% to Rs 87.25 after the company's promoter, Ambuja Cements sold 2% or 51.66 lakh equity shares in open market to comply with minimum public shareholding norms.
The shareholding of promoters and promoter’s group has reduced to 78.52% from 80.52%.

Earlier on March 12, 2024, Ambuja Cements, the promoter of the company had conveyed to the firm, their intention to sell the equity shares to enable the company to comply with minimum public shareholding norms.

Sanghi Industries is engaged in the manufacturing and marketing of cement and cement products in domestic and export market.

The company reported a consolidated net loss of Rs 142.73 crore in Q3 FY 24 as compared with Rs 143.95 crore in Q3 FY23. Revenue from operations stood at Rs 188.73 crore in Q3 FY 24.

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