Shares of UltraTech Cement rose in morning trade on April 20 after the company ramped up manufacturing capacity.

UltraTech Cement has increased the capacity of its grinding unit in Patliputra, Bihar, to 4.7 mtpa by successfully commissioning its 2.2 mtpa brownfield extension.

The new capacity will help the company meet the fast-growing cement demand in the eastern region and will also help increase its blended cement ratio.

The company said India’s total grey cement capacity currently stands at 129.15 mtpa.

In the first phase of the expansion, the company aims to add 19.9 MT of capacity, bringing the total capacity to 131.25 MTPA. We expect 2.25 tonnes of capacity to be added in Q1FY24, ICICDirect said.

The company’s board of directors meeting will be held on April 28 to review and approve the company’s independent and consolidated audited financial results and to recommend the company’s FY23 equity dividend, if any.

At 9:23 am, UltraTech Cement was quoted at Rs 7,557.10 on the BSE, up Rs 39.95, or 0.53%.

The stock hit a 52-week high of Rs 7,824.65 and a 52-week low of Rs 5,158.05 on April 17, 2023, and June 17, 2022. Shares are currently trading 3.42% below their 52-week highs and 46.51% above their 52-week lows.