UltraTech Cement falls 10% in three days; loses Rs 17,157 crore-market cap

Analysts at ICICI Securities believe the next two quarters will remain challenging for the cement industry as it will battle both weak demand (owing to monsoon) & heightened costs.

Shares of UltraTech Cement hit a fresh 52-week low of Rs 5,412, down 3 per cent on the BSE in Tuesday’s trade. The shares have fallen 10 per cent in the past three trading days after the company announced around Rs 12,900 crore-capital expenditure (capex) plan. The stock of the largest player in the cement industry was trading at its lowest level since February 2021.

A sharp decline in the stock price of UltraTech has seen the company lost Rs 17,157 crores of market capitalisation in the last three trading days. As of 11:12 am; UltraTech's market capitalisation stood