Shares of ACC gained over 2% on Thursday after the cement major announced the commissioning of its new Grinding Unit (GU) at Sindri in the State of Jharkhand.

ACC, one of the leading cement makers, on Tuesday announced the successful commissioning of its new Grinding Unit (GU) at Sindri in the State of Jharkhand effective Jan. 2, 2021. The new facility will add an additional capacity of 1.4 MTPA cement to the existing 3.0 MTPA unit, taking the total capacity at Sindri to 4.4 MTPA.

The foundation stone of Sindri GU - phase II was laid in December 2019 with an aim to contribute significantly to servicing the growing market, strengthen our presence in the Eastern region and add value to our Business. This facility will manufacture low CO2, environment friendly, cement products, the company said.

"Strong ambition aimed at deliverance of high performance, is what guided ACC to establish the commissioning of the Sindri GU-Phase-II within a record period of nine months despite numerous challenges. I am proud of the flexibility and agility demonstrated by the team," said Neeraj Akhoury, CEO LafargeHolcim India and Non-Executive Director ACC.

Sridhar Balakrishnan, MD & CEO, ACC commented, "The commitment, meticulous planning, and collaborative approach by the Project Sindri team in these unprecedented times and commencing the cement production in a record time have set a new benchmark for ACC."

Shares of ACC are trading at Rs 1,713.10, up Rs 38.8, or 2.32% at the Bombay Stock Exchange (BSE) on Thursday at 11:45 a.m.

The scrip has touched an intra-day high of Rs 1,718 and low of Rs 1,684. The total volume of shares traded at the BSE is 41,309.In the earlier session, the shares rose 1.8%, or Rs 29.55, at Rs 1,674.30.

Currently, the stock is trading down 4.19% from its 52-week high of Rs 1,788.05 and above 91.3% over the 52-week low of Rs 895.50.