Monday, 23 January 2017

UltraTech Cement gains after announcing Q3 results : 21 January 2017.



On the BSE, 8,574 shares were traded on the counter so far as against the average daily volumes of 13,878 shares in the past one quarter. The stock had hit a high of Rs 3,534.75 and a low of Rs 3,482 so far during the day.

The stock had hit a record high of Rs 4,130 on 8 September 2016 and a 52-week low of Rs 2,646.80 on 21 January 2016. The stock had outperformed the market over the past one month till 20 January 2017, advancing 10.21% compared with the Sensex`s 2.76% rise. The scrip had, however, underperformed the market over the past one quarter declining 13.42% as against the Sensex`s 3.89% fall.
The large-cap company has equity capital of Rs 274.48 crore. Face value per share is Rs 10.
UltraTech Cement`s board at its meeting held on Saturday, 21 January 2017, inter alia, approved setting up of a 3.5 million tonnes per annum (MTPA) integrated cement plant at Dhar, Madhya Pradesh at a total cost of around Rs 2600 crore.
Commercial production from the plant is expected to commence by Q4 March 2019. This plant will help in reduction of lead distance and cater to the markets of south-west Madhya Pradesh, where the company is not a significant player.
With this expansion and the acquisition of the cement plants of Jaiprakash Associates, the company`s cement capacity will stand augmented to 95 MTPA including its overseas operations.
Going forward, continuing government spending on infrastructure, development of smart cities, interest rate cuts supported by interest subsidy schemes for housing will be the key cement demand drivers.
UltraTech Cement is a leading cement manufacturer in India. It is a part of the Aditya Birla Group. 

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