Indian cement companies are announcing fresh capital expenditure (capex) plans amid biting cost pressures and subdued demand, with Shree Cement Ltd the latest to join the bandwagon. The company is setting up a clinker and cement plant with a capacity of 1.5 million tonnes per annum (mtpa) and 3 mtpa, respectively, in Guntur, Andhra Pradesh at a total cost of ₹2,500 crore, it said on Saturday. The company aims to commission the plant by December 2024. However, this has not enthused investors much. On Monday, the stock dropped to a 52-week low initially on NSE and closed about 2% higher than the previous close.