Birla Corporation inches up on drawing up strategy to augment cement production capacity
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Birla Corporation is currently trading at Rs. 1242.15, up by 0.45 points or 0.04% from its previous closing of Rs. 1241.70 on the BSE.
The scrip opened at Rs. 1215.40 and has touched a high and low of Rs. 1256.00 and Rs. 1215.40 respectively. So far 1597 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1266.00 on 30-Jun-2023 and a 52 week low of Rs. 843.05 on 27-Feb-2023.
Last one week high and low of the scrip stood at Rs. 1260.15 and Rs. 1137.70 respectively. The current market cap of the company is Rs. 9530.95 crore.
The promoters holding in the company stood at 62.90%, while Institutions and Non-Institutions held 22.96% and 14.14% respectively.
Birla Corporation has drawn up a strategy to augment its cement production capacity to 25 million tonnes by the 2025-26 fiscal from the existing 20 million tonnes. The cement maker is planning to meet its targeted production by increasing capacity utilisation at its Mukutban plant in Maharashtra, setting up the second clinker unit at Maihar in Madhya Pradesh and constructing new grinding units.
With the increasing capacity utilisation of the Mukutban unit, the company is confident of increasing its market share in the premium cement segment in that state, where other major players are active. The integrated Mukutban plant has an installed capacity of 3.9 million tonnes annually. The capacity utilisation at present stands at 40-45 per cent, and the company aims at a capacity utilisation of nearly 3 million tonnes by the 2024-25 fiscal.
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.
