Monday , 20 September 2021
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Ambuja Cements trades higher on planning to invest Rs 310 crore to expand Ropar unit

Ambuja Cements trades higher on planning to invest Rs 310 crore to expand Ropar unit

Ambuja Cements is currently trading at Rs. 416.75, up by 5.70 points or 1.39% from its previous closing of Rs. 411.05 on the BSE.

The scrip opened at Rs. 411.05 and has touched a high and low of Rs. 418.25 and Rs. 410.75 respectively. So far 72596 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 418.25 on 02-Aug-2021 and a 52 week low of Rs. 197.50 on 24-Sep-2020.

Last one week high and low of the scrip stood at Rs. 418.25 and Rs. 391.25 respectively. The current market cap of the company is Rs. 82702.12 crore.

The promoters holding in the company stood at 63.28%, while Institutions and Non-Institutions held 30.18% and 6.53% respectively.

Ambuja Cements is planning to invest Rs 310 crore to expand the production capacity of its plant at Ropar, Punjab, over the next two years. The said investment is a part of Ambuja Cements (ACL) aim to have a total cement capacity of 50 MTPA (million tonnes per annum) in the mid-term and in anticipation of a growing demand for cement triggered by the steady growth in India’s urbanization leading to more investment in public infrastructure and housing.

The expansion at the Ropar plant is expected to be completed by June 2023 and after this total capacity of the cement grinding unit at Ropar will increase to 4.5 MTPA from 3 MTPA now.

Ambuja Cements is engaged in manufacturing and marketing of cement and clinker for both domestic and export markets.

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