UltraTech scores over ACC in March quarter due to strong volume growth

UltraTech Cement’s better-than-expected performance for the March 2019 quarter has lifted the Street’s sentiments that seemed soft after weaker-than-expected performance posted by ACC a day earlier.

UltraTech’s stock was trading weak on Wednesday initially, though it comfortably closed in the green with gains of about 5 per cent, while ACC stock, in contrast, closed over 3 per cent lower.

UltraTech’s domestic sales volumes grew 16 per cent year-on-year (YoY), way ahead of 5.6 per cent growth reported by ACC in the March quarter. While both cement majors are pan-Indian players, UltraTech’s continued capacity expansion over the past few years, which