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Hot Pursuit News

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(11 Oct 2023, 09:44)

Shiva Cement soars after receiving regulatory nod for expanding cement production

Shiva Cement jumped 5.63% to Rs 51.06 after the company announced the receipt of approval from Odisha's pollution control board for doubling its existing production capacity.

In a regulatory filing that was made after market hours on Tuesday, the cement maker said that it has received CTO (consent to operate) from State Pollution Control Board, Odisha, for increase in production from exiting capacity of 0.66 million tonnes per annum (MTPA) to 1.5 MTPA.

Shiva Cement commenced commercial production in 1986. The manufacturing facility is located at village Telighana (Kutra), District Sundargarh (Odisha) and limestone mines are at Khaturbahal (Kutra, Odisha). SCL was acquired by JSW Cement during fiscal 2017 and became its subsidiary thereafter.

The company had reported a net loss of Rs 4.66 crore in the quarter ended June 2023 as against net loss of Rs 13.38 crore during the previous quarter ended June 2022. There were no sales reported in the quarter e...

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