Following the uptick on the counter market capitalisation of the company improved by Rs 2,477 crore to Rs 1,16,519.84 crore.
The plant, which will have a capacity of 3.5 million tonnes per annum (MTPA), is expected to commence commercial production by June 2020.
Following the announcement on December 9, the shares of the company opened on a bullish note at Rs 4,198 and surged further to touch an intra-day high of Rs 4,253.90, up 2.40 per cent over its previous close.
On NSE, the stock opened at Rs 4,189, then touched an intra-day high of Rs 4,257.95 and finally ended at Rs 4,230, up 1.55 per cent.
Also Read
With this expansion UltraTech will have a foot print across the country with 50 plant locations.
Meanwhile, UltraTech also informed that its board has also approved a proposal "to increase in the investment limits by RPFI, including FIIs, from the existing limit of 30 per cent of the paid-up equity share capital to up to 40 per cent of the paid-up equity share capital of the company".
Disclaimer: No Business Standard Journalist was involved in creation of this content