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    This multibagger zooms 5% on capacity expansion plans

    Synopsis

    The manufacturer of cement and related products is currently producing about 1 million tonnes per annum (MPTA) and intends to nearly triple it from existing levels. Currently, the daily capacity is about 1,100 tonnes.

    This multibagger zooms 5% over capacity expansion plansAgencies
    Smallcap firm Shri Keshav Cements and Infra (SKCIL) hits its upper circuit limit on Monday after the company announced to increase its capacity.

    The BSE-listed company informed the exchange that it is considering undertaking a feasibility study for expanding its manufacturing capacity to 3,000 tonnes per day (TPD).

    Following the development, shares of SKCIL rallied 5 per cent, close to its daily circuit limit of Rs 128 and just shy of its 52-week high of Rs 131.70 hit in May 2022. The scrip had settled at Rs 122.05 on Friday.

    The manufacturer of cement and related products is currently producing about 1 million tonnes per annum (MPTA) and intends to nearly triple it from existing levels. Currently, the daily capacity is about 1,100 tonnes.

    Belagavi (Karnataka) based Shri Keshav Cements and Infra, formerly known as Katwa Udyog, is engaged in manufacturing of ordinary portland cement. The company also offers project consultancy for construction.

    Incorporated in 1993, the company launched its initial public offering (IPO) in 1995. It set up and commissioned a 20 MW captive solar plant in Koppal (Karnataka) in March 2018.

    Since listing, shares of SKCIL have rallied over 2,100 per cent. In the last one year, the stock is up by more than 140 per cent, whereas it has more than doubled investors' wealth on a year-to-date basis in 2022 so far.

    Promoters and promoter group entities hold 73.03 per cent stake in the company, whereas the remaining 26.97 per cent stake is with public shareholders.

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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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