Binani Cement presently trades at Rs 32.60, up by 1.30 points or 4.15% from its previous closing of Rs 31.30 on the BSE. The stock opened at Rs 32.40, and touched a high of Rs 33.75 with a low of Rs 32.10. So far, 9,085 shares were traded on the BSE.

The BSE stock touched a 52-week high of Rs 124 and a 52-week low of Rs 26.20.

Binani Cement has signed a Memorandum of Understanding (MoU) with the government of Gujarat for setting up an Rs 825 crore greenfield cement plant with a capacity of 2.5 mtpa in Junagadh.

The plant is scheduled for completion by December 2010 and the commercial production would begin from April 2011. Manufacturing of ordinary portland cement (OPC) and Pozzolona Portland cement (PPC) in various grades will be done at the plant.

The proposed plant requires about 188 hectares of land and for mining 1,532 hectares.