UltraTech Cement shares closes with over 4% gain
Shares of UltraTech Cement on Friday closed with an 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 the BSE, later closed at Rs 5,092.90, a gain of 4.10 per cent. On the 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.