Shares of DCM Shriram rose nearly 2% on Tuesday after the company announced the successful expansion of its Loni Sugar plant in Uttar Pradesh. The cane crushing capacity of the plant has been increased from 7,300 TCD (Tons of Cane per Day) to 9,400 TCD, enhancing its production capabilities.
The company stated in its exchange filing, “The 2,100 TCD expansion of the Sugar Plant at Loni Unit, Uttar Pradesh, has been achieved at 12:00 midnight on November 19, 2024. This expansion will enable the company to capitalize on the cane potential within its catchment area.”
The development aligns with DCM Shriram’s strategy to meet growing market demand for sugar and improve operational efficiency. This expansion also strengthens its position in the sugar production sector, leveraging opportunities in the domestic market.
As of 11:21 AM, the shares of DCM Shriram were trading 2.14% higher at ₹1,350.00 on the NSE, reflecting investor optimism about the company’s growth prospects.
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