Shiva Cement soars on receiving consent to operate from Odisha's Pollution Control Board

Shiva Cement jumped 4.07% to Rs 57.50 after the company announced the receipt of approval from Odisha's pollution control board for operating its clinker and waste heat recovery unit.

On the BSE, 5.30 lakh shares were traded in the counter so far compared with average daily volumes of 1.25 lakh shares in the past two weeks. The stock hit a high of Rs 58.7 and a low of Rs 56 so far during the day.

In an exchange filing made post trading hours yesterday, the cement maker said that it has received CTO (consent to operate) from State Pollution Control Board, Odisha, for operating its 0.66 MTPA Clinker and 9 MW WHR (Waste heat recovery) unit.

Shiva Cement commenced commercial production in 1986. The manufacturing facility is located at village Telighana (Kutra), District Sundargarh (Odisha) and limestone mines are at Khaturbahal (Kutra, Odisha). SCL was acquired by JSW Cement during fiscal 2017 and became its subsidiary thereafter.

The company had reported a consolidated net loss of Rs 11.19 crore in the quarter ended September 2022 as against net loss of Rs 4.44 crore during the previous quarter ended September 2021. There were no sales reported in Q2 FY23. Sales in Q2 FY22 amounted to Rs 0.05 crore.

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