Interarch Building shares surge over 4 per cent as company announces board meeting, new plant inauguration; details here

Interarch Building Products Limited's share price surged over 4 per cent on September 5 during the early trading session following two major announcements. The building products manufacturer scheduled a board meeting to review financial results and inaugurated a new manufacturing plant in Andhra Pradesh.

Interarch Building's share price was trading in the green, up 4.31 per cent, at ₹1181.00 on BSE on September 5, at 11:21 am, on BSE. The company enjoys a market capitalisation of ₹1,965.23 crore.

Interarch Building stock price history

Interarch Building Products made a strong debut on the Indian stock exchanges on August 26, with its shares trading at a premium of approximately 44 per cent. The stock opened at ₹1,291.20 per share on the BSE and ₹1,299 per share on the NSE.

On September 4, 2024, Interarch Building Products informed the National Stock Exchange of India and BSE Limited that its Board of Directors will convene on Thursday, September 12, 2024. The primary agenda for this meeting is to consider and approve the unaudited financial results for the quarter ended June 30, 2024.

The company has implemented a trading window closure in line with regulatory requirements. As stated in the announcement, “The revised Trading Window for dealing in securities of the Company by designated persons shall remain closed till 48 hours after the declaration of aforesaid results, i.e. up to 14th September 2024.”

Simultaneously, Interarch Building Products celebrated the inauguration of Phase 1 of its fifth state-of-the-art PEB (Pre-Engineered Building) manufacturing plant in Attivaram, Andhra Pradesh. This facility marks the company's fourth fully integrated unit. The company also conducted a ground-breaking ceremony for Phase 2 of the same plant, which is set to boost production capacity significantly.

According to the company's statement, "Phase 2 of the same plant which covers 6 acres of the plot and will increase the Company's installed capacity by 40000 MT, increasing the overall capacity of 2 Lac MT per annum."

This expansion aligns with Interarch Building Products' growth strategy and is expected to strengthen its market position. The company has been performing well in the stock market, with its shares listed at a premium of around 44 per cent on its debut. The stock opened at ₹1291.20 on the BSE and ₹1,299 on the NSE, reaching intraday highs of ₹1,316 and ₹1,314.80 respectively.

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