On Friday, Shares of UltraTech Cement Ltd. surged 4 per cent, hitting a fresh record high in the early morning trade on the BSE. After, India’s largest cement company announced that it will invest Rs 5477 crore as capital expenditure (CapEx) to increase its capacity by 12.8 million tonnes per annum (mtpa). The company’s share crossed the Rs 5,000 level to scale the peak of Rs 5,104, surpassing its previous high of Rs 4,998 yesterday. 
Kumar Mangalam Birla, Chairman, Aditya Birla Group said, “The cement industry has been witnessing healthy volumes post relaxation of lockdown, on the back of the government’s thrust on infrastructure, underlying demand from the rural economy and individual home builders. “
The expansion plan will be a mix of greenfield projects and brownfield investment into the existing units of the company in the eastern, central, and northern markets which includes existing approval for the cement plant at Pali in Rajasthan. Currently, the company’s 6.7 mtpa capacity expansion plan in Uttar Pradesh, Odisha, Bihar, and West Bengal is underway its way to get commissioned by FY22, said UltraTech Cement. The capacity addition would not impact the company’s ongoing plan to become debt-free by the time the expansion program is completed, it added.