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This article is more than 2 month old.

Birla Corporation shares surge 6% on plan to raise cement production capacity

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Shares of Birla Corporation surged over six percent after the company said it will increase its annual cement production capacity to 30 million tonnes by 2027 as compared to its earlier target of raising production capacity to 25 million tonnes by 2025.

Birla Corporation shares surge 6% on plan to raise cement production capacity
Shares of Birla Corporation surged over six percent on Thursday after the company said it will increase its annual cement production capacity to 30 million tonnes by 2027 as compared to its earlier target of raising production capacity to 25 million tonnes by 2025.
Birla Corporation’s current production capacity is 15.6 million tonnes. This will go up to almost 20 million tonnes by the end of the current fiscal year, when its greenfield 3.9 million tonne-plant at Mukutban near Nagpur, is commissioned, the company said in a regulatory filing.
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The aggressive expansion plan is reflective of the company's improving profitability and cash flow.
“Birla Corporation Limited will expand in markets where the Company has an edge over competition and demand for cement is projected to get stronger,” said Shri Harsh V Lodha, Chairman of the MP Birla Group.
Birla Corporation is the flagship company of the MP Birla Group.
Compared with the legacy assets of the company, new plants are going to be more efficient and profitable, the company added in the filing.
Additionally, however, the company said its plan to expand the capacity of its Kundanganj unit to 3 million tonne from 2 million tonne remains unchanged.
At 10:47 am, shares of Birla Corporation were trading 5.3 percent higher at Rs 1,427.40.
The stock has been gaining for the last three days and has risen nearly 10 percent returns during the period.
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