Explosive cement stock news: Order placed for capacity expansion; are you a part of the action?
The stock gave multibagger returns of 126 per cent in just 3 years whereas BSE Sensex rose by only 26 per cent.
Ambuja Cements, the cement and building material company of the diversified Adani Group, placed orders to expand Clinker capacity by 8 million tonnes at Bhatapara and Maratha units on the highest ESG standards with 42 MW of WHRS, provision to utilize 50 per cent AFR and provision to operate on green power.
The capacity expansion projects will enable the production of Blended Green Cement of 14 million tonnes, post all requisite approvals. These projects will generate substantial value for the existing business and enable more employment and growth opportunities in the States, beneficial for all stakeholders. These projects are expected to be commissioned in 24 months and the CAPEX will be funded from internal accruals.
Mr Ajay Kapur, CEO of Cement Business, said, "These brownfield expansion projects are part of our strategy to double our production capacity over the next five years from the current capacity of 67.5 MTPA. Our ongoing investments in capacity expansion and sustainability will enable us to achieve our long-term objectives, as we remain committed to delivering sustainable growth and value to our stakeholders.”
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Ambuja Cements Ltd (Founded in 1993) is one of India’s leading cement manufacturers, with a presence in 80 countries.
On Monday, shares of Ambuja Cements plunged 0.79 per cent to Rs 406.75 per share from its previous closing of Rs 410. The stock has a 52-week high of Rs 598.15 and a 52-week low of Rs 315.30.
The company reported positive numbers in its Quarterly Results and annual results with a 3-year CAGR of 31 per cent. The stock gave multibagger returns of 126 per cent in just 3 years whereas BSE Sensex rose by only 26 per cent. Investors should keep an eye on this cement stock.