UltraTech Cement soars on acquiring cement grinding assets of Burnpur Cement
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Ultratech Cement is currently trading at Rs. 8889.35, up by 162.80 points or 1.87% from its previous closing of Rs. 8726.55 on the BSE.
The scrip opened at Rs. 8760.55 and has touched a high and low of Rs. 8959.95 and Rs. 8760.55 respectively. So far 3648 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 8,959.95 on 30-Nov-2023 and a 52 week low of Rs. 6605.45 on 27-Jan-2023.
Last one week high and low of the scrip stood at Rs. 8959.95 and Rs. 8544.00 respectively. The current market cap of the company is Rs. 257156.32 crore.
The promoters holding in the company stood at 59.96%, while Institutions and Non-Institutions held 31.74% and 7.78% respectively.
UltraTech Cement has acquired a 0.54 mtpa cement grinding assets of Burnpur Cement, located at Patratu in Jharkhand at a consideration of Rs 169.79 crore in terms of the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with the Security Interest (Enforcement) Rules, 2002. This investment marks the company’s entry in the State of Jharkhand. The company’s capacity in India now stands at 133 mtpa.
UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India.
