UltraTech Cement soars on acquiring grinding unit from India Cements
Ultratech Cement is currently trading at Rs. 9528.00, up by 160.60 points or 1.71% from its previous closing of Rs. 9367.40 on the BSE.
The scrip opened at Rs. 9529.35 and has touched a high and low of Rs. 9572.20 and Rs. 9473.75 respectively. So far 3742 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 10522.65 on 29-Dec-2023 and a 52 week low of Rs. 7308.40 on 24-Apr-2023.
Last one week high and low of the scrip stood at Rs. 9635.00 and Rs. 9250.10 respectively. The current market cap of the company is Rs. 275436.01 crore.
The promoters holding in the company stood at 59.96%, while Institutions and Non-Institutions held 31.94% and 7.58% respectively.
UltraTech Cement has acquired a grinding unit from India Cements for Rs 315 crore and it will invest an additional Rs 504 crore to expand capacity of two units. Grinding unit is having installed capacity of 1.1 million tonnes per annum. The company has entered into an Asset Purchase Agreement with India Cements. This purchase will help the company to strengthen its presence in the rapidly growing Maharashtra markets.
UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India.
