Nuvoco bets on expansions to spur growth; execution key

Shifting base

- Manvi Agarwal

Nuvoco Vistas Corp.'s stock is up around 42% over the past six months, inching closer to a 52-week high of ₹477. Investors' optimism is fueled by hopes that the cement maker may have struck a balance between growth and capital discipline.

This month, the company announced a fresh four-million-tonne (mt) expansion in east India, which includes a new grinding mill at Arasmeta in Chhattisgarh, and removing bottlenecks and upgrades at the Jojobera (Jharkhand), Panagarh (West Bengal), and Odisha plants in phases. This will cost ₹200 crore—fully funded through internal accruals. At $6 per tonne, the planned expenditure is lower than typical expansion costs.