Prism Cement soars on completion of capacity expansion of JV

The stock surges 6% to Rs 124 on BSE in intra-day trade

Prism Cement has surged 6 per cent to Rs 124 on BSE in intra-day trade after the company announced that its step-down joint venture (JV), Sanskar Ceramic, has completed the expansion of 4.2 million m2 (MSM) per annum vitrified tiles capacity at its Dhuva plant, Morbi.

The commercial production has commenced from 21 June 2017.

“With this expansion, the company would be able to reduce outsourcing of vitrified tiles from third party sources and become more self-reliant,” Prism Cement said in a regulatory filing.

The capacity of Sanskar now stands at 2.3 MSM of wall tiles and