UltraTech Cement extends gain post Q3 results; stock hits over 7-month high

The company management said the signs of revival were visible in some markets during the latter part of the October-December quarter.

Shares of UltraTech Cement climbed 2 per cent to Rs 4,753 on the BSE on Monday in an otherwise weak market as most of the analysts maintained ‘buy’ rating on the stock, citing improving demand scenario which would lead to sustained volume growth for the company.

The stock was trading higher for the third straight day and at its highest level since June 4, 2019.

UltraTech management said the signs of revival were visible in some markets during the latter part of October-December quarter (Q3FY20). This, together with the Government's firm commitment to revive the economy and the