UltraTech Cement rose 0.43% to Rs 4,106 at 14:30 IST on BSE after the company announced its Q2 results.
The result was announced during market hours today, 18 October 2017.Meanwhile, the S&P BSE Sensex was up 21.71 points or 0.08% at 32,634.23.
More than usual volumes were witnessed on the counter. On the BSE, 30,202 shares were traded on the counter so far as against the average daily volumes of 14,049 shares in the past one quarter. The stock had hit a high of Rs 4,180 and a low of Rs 4,053 so far during the day. The stock had hit a record high of Rs 4,531 on 16 May 2017 and a 52-week low of Rs 3,052 on 27 December 2016.
The stock has gained 4.68% in four sessions to its ruling price, from a close of Rs 3,922.10 on 12 October 2017.
The stock had underperformed the market over the past one month till 17 October 2017, falling 2.77% compared with 1.04% gains in the Sensex. The scrip had also underperformed the market in past one quarter, declining 5.96% as against Sensex's 1.67% rise. The scrip had also underperformed the market in past one year, gaining 1.98% as against Sensex's 18.45% rise.
The large-cap company has equity capital of Rs 274.54 crore. Face value per share is Rs 10.
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UltraTech Cement's consolidated net profit fell 31.1% to Rs 423 crore on 19.83% growth in net sales to Rs 6840 crore in Q2 September 2017 over Q2 September 2016.
UltraTech Cement said that increased depreciation and higher interest cost relating to the acquired cement plants resulted in lower net profit in Q2. The quarter continued to witness increasing cost trends, attributable to increase in fuel prices.
The company's board of directors at a meet held today, 18 October 2017, approved an investment of Rs 194 crore for putting up a 4 Lmt capacity wall care putty plant to cater to the rising demand for putty. The plant is expected to be commissioned during Q2 FY 2020.
In its outlook, the company said that the government spending on infrastructure, rural and affordable housing will be the key demand drivers. The company is well positioned across the country to cater to the demand of cement.
UltraTech Cement is a leading cement manufacturer in India. It is a part of the Aditya Birla Group.
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