UltraTech Cement soars on getting nod for capacity expansion
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UltraTech Cement is currently trading at Rs. 8336.00, up by 129.35 points or 1.58% from its previous closing of Rs. 8206.65 on the BSE.
The scrip opened at Rs. 8282.80 and has touched a high and low of Rs. 8344.00 and Rs. 8205.00 respectively. So far 2083 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 8750.00 on 15-Sep-2023 and a 52 week low of Rs. 6409.15 on 28-Oct-2022.
Last one week high and low of the scrip stood at Rs. 8520.35 and Rs. 8148.30 respectively. The current market cap of the company is Rs. 237334.82 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’s board has approved Capital expenditure (capex) towards increasing capacity, with a mix of brown field and green field expansion, in order to cater to future growth. The proposed capacity is expected to be added in a phased manner from FY26 onwards. Investment required for the proposed capacity expansion is Rs 13,000 crore. The Board of Directors of the company at its meeting held on October 28, 2023, has approved the same.
UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India.
