Birla Corporation zooms on aiming to double cement manufacturing capacity in next five years

Birla Corporation is currently trading at Rs. 1422.75, up by 66.65 points or 4.91% from its previous closing of Rs. 1356.10 on the BSE.

The scrip opened at Rs. 1375.40 and has touched a high and low of Rs. 1438.80 and Rs. 1372.45 respectively. So far 19200 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1560.00 on 23-Jul-2021 and a 52 week low of Rs. 617.00 on 13-Oct-2020.

Last one week high and low of the scrip stood at Rs. 1438.80 and Rs. 1283.15 respectively. The current market cap of the company is Rs. 10905.50 crore.

The promoters holding in the company stood at 62.90%, while Institutions and Non-Institutions held 17.72% and 19.39% respectively.

Birla Corporation is aiming to almost double its cement manufacturing capacity to 30 million tons per annum in the next five years by 2027. It has an ‘aggressive expansion plan’ and will expand in markets where it has an edge over its competitors. Plans are afoot to reach a target of 30 MTPA by 2027. Birla Corporation has a current production capacity is 15.6 mt and is expected to go up to almost 20 MTPA by the end of the current fiscal year, when its greenfield 3.9 MTPA plant at Mukutban, near Nagpur, is commissioned. The aggressive expansion plan is reflective of the company’s improving profitability and cash flow.

Birla Corporation is primarily engaged in the manufacturing of cement as its core business activity. It has significant presence in the jute goods industry as well.

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