In the early trading hours of April 3, Ramco Cement’s shares experienced a marginal dip in value despite the company’s significant milestone of commissioning Line II and commencing commercial production at its existing grinding unit located in Haridaspur, within Odisha’s Jajpur district.
As of 9:22 am, Ramco Cements was observed trading at Rs 853.50 on the BSE, marking a decline of Rs 7.60 or 0.88 percent.
The inauguration of Line II has significantly augmented the cement manufacturing capacity by 0.90 million tonnes per annum (MTPA), effectively doubling the aggregate capacity of the Odisha Grinding Unit to 1.8 MTPA.
While this development underscores Ramco Cement’s commitment to enhancing its operational capabilities and market presence, it is noteworthy that the stock’s immediate response has been subdued, reflecting broader market sentiments.
It’s worth noting that Ramco Cement’s share price reached its 52-week high at Rs 1,057.85 and its 52-week low at Rs 715.40 on December 14, 2023, and April 24, 2023, respectively. Presently, the stock is trading 19.32 percent below its 52-week high and 19.3 percent above its 52-week low.
Despite the current market dynamics, the successful commissioning of Line II underscores Ramco Cement’s continued commitment to growth and operational excellence in the cement sector.
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