Shares of Prism Johnson Ltd surged nearly 15% to ₹169.80 in Wednesday’s session after the company announced a key update on its cement operations.
The company said its partner RLJ Cement has successfully completed part of a planned capacity enhancement at the Mirzapur plant in Uttar Pradesh. With this upgrade, RLJ Cement’s production capacity has increased by 0.20Mt/yr to 0.50Mt/yr.
Under a non-exclusive supply arrangement, cement manufactured to Prism Cement’s specifications at the Mirzapur plant will be supplied for onward sale. As a result, Prism Johnson’s outsourced grinding capacity through multiple supply tie-ups has expanded from 1.17Mt/yr to 1.37Mt/yr.
The company noted that the Mirzapur facility is now fully operational after the capacity upgrade, strengthening Prism Johnson’s supply chain and positioning it to better cater to growing market demand.
At the time of writing, Prism Johnson shares were trading up 14.10% at ₹169.80 against the previous close of ₹148.82.
