UltraTech Cement rose 0.67% to Rs 5,583.20 after the company announced that its board will consider a proposal for raising funds at its board meeting scheduled to be held on 23 January 2021.
The board will also consider and evaluate a proposal for raising of funds, in one or more tranches, through permissible mode(s) and / or combination(s) thereof as may be considered appropriate, by way of issuance of any instruments or securities in India and / or overseas, whether rupee denominated or denominated in foreign currency, which may or may not be listed, through private placement, preferential issue, qualified institutions placement, external commercial borrowing including by way of foreign currency bonds offering, or such other methods or combinations thereof.
The announcement was made after market hours yesterday, 20 January 2021.
The Aditya Birla Group company will also consider and approve the financial results for the quarter ended 31 December 2020 on the same day (23 January 2021).
UltraTech Cement manufactures a range of products that cater to construction needs from foundation to finish, including Ordinary Portland Cement (OPC), Portland Blast Furnace Slag Cement (PSC), Portland Pozzolana Cement (PPC), white cement including white cement-based products and ready-mix concrete.
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