Shiva Cement stock soars 9% on JSW Cement's Rs 3,000-cr investment plans

JSW Cement will set up a greenfield, integrated manufacturing facility in Rajasthan’s Nagaur district, the JSW Group-owned company said on May 21.

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26 Aug, 2025 12:21

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Shares of Shiva Cement surged nearly 9 percent on May 21 following parent firm JSW Cement’s announcement of an investment of Rs 3,000 crore to set up a new plant in Rajasthan.

Shiva Cement's shares were trading 8.74 percent higher at Rs 49.15 apiece on BSE at 12:10 pm on May 21.

JSW Cement will set up a greenfield, integrated manufacturing facility in Rajasthan’s Nagaur district, the JSW Group-owned company said on May 21. The company also said the investment would be funded through a mix of equity and long-term debt.

Also read: JSW Cement to invest Rs 3,000 crore to set up integrated facility in Rajasthan

JSW Cement holds a majority 59.32 percent stake in Shiva Cement and is named as the company's promoter.

Cement makers in India are bullish on the demand environment as the Centre continues to spend on infrastructure, rural development and expansion of the housing sector.

Also read: Looking for acquisitions for JSW Cement expansion: Sajjan Jindal

In March, the IPO-bound JSW Cement had said it is actively looking for acquisitions to boost its capacity as the industry moves towards consolidation in race to gain market share.

"Wherever we see an opportunity, we will get into it," JSW Group managing director and chairman Sajjan Jindal told Moneycontrol on the sidelines of the JV launch with SAIC-owned MG Motor on March 20. When asked if the group is looking to expand through inorganic routes, Jindal said, "Yes, we are."

Exclusive: Post JSW Infra listing, now JSW Cement picks bankers and kicks off mega Rs 6,000-cr IPO

The so-called green cement maker wants to be among the top five cement producers in the country, with a capacity of 60 million tonnes per annum in the next five years.