Stocks

UltraTech Cement shares close with over 4% gain on investment plan

PTI New Delhi | Updated on December 04, 2020 Published on December 04, 2020

 

Shares of UltraTech Cement on Friday closed with over 4 per cent gain after the firm announced an investment plan worth Rs 5,477 crore.

The stock, which zoomed 6.25 per cent to a one-year high of Rs 5,198.30 during the day on BSE, later closed at Rs 5,092.90, a gain of 4.10 per cent.

On NSE, it gained 4.01 per cent to settle at Rs 5,089.80.

The country’s largest cement maker on Thursday announced a Rs 5,477-crore investment to add 12.8 million tonnes (MT) capacity, taking its overall output to over 136 MT per annum.

In a statement, the company said its board in a meeting approved capacity expansion to the tune of 12.8 MT per annum with a mix of brown-field and green-field expansion.

Upon completion of the latest round of expansion, UltraTech’s capacity will grow to 136.25 MT per annum, reinforcing its position as the third-largest cement company in the world, outside of China.

 

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Published on December 04, 2020
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