Shares of ACC gained 2.3 percent intraday Wednesday after company board approved the expansion proposals.
The company board has granted its approval for setting up a Greenfield Integrated Cement Plant at Ametha, Madhya Pradesh along with expansion of the existing grinding unit in Tikaria, Uttar Pradesh and a third grinding unit in Uttar Pradesh.
It also approved the setting up of 1.1 MTPA Cement Grinding facility at the existing location at Sindri, Jharkhand.
The above projects are proposed to be completed within a period of three years, which will allow the company to strengthen its presence in its markets, it added.
At 11:30 hrs ACC was quoting at Rs 1,467.20, up Rs 33.10, or 2.31 percent on the BSE.
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