company news: Birla Corp

Birla Corp has informed the exchanges that its Board of Directors at their meeting held October 30 has approved the proposal to start test marketing of construction chemicals and additives to extend the M.P. Birla franchise. The new products belong to the construction industry and fall under construction belongs to chemicals and additives category. The new products have business synergy with the company’s existing cement business and will be sold through the same business network. Another benefit of the move is diversification from the cement business to the construction solution provider through brand extension, by leveraging the existing network strength. Since the company undertakes contract manufacturing, investment towards manufacturing is nil. However, the company will incur only operational expenses. Shares of Birla Corp closed at ₹573.85 on the BSE on Tuesday, down 0.12 per cent or ₹0.70 from its previous close.