UltraTech Cement rose 0.41% to Rs 3,887.25 at 10:00 IST on BSE after the company announced a proposal to issue secured redeemable non-convertible debentures amounting Rs 500 crore on private placement basis.
The announcement was made after market hours yesterday, 18 August 2016.Meanwhile, the S&P BSE Sensex was up 8.44 points, or 0.03%, to 28,131.88.
On BSE, so far 1,827 shares were traded in the counter, compared with an average daily volume of 21,532 shares in the past one quarter. The stock hit a high of Rs 3,920 so far during the day, which is also a record high for the stock. The stock hit a low of Rs 3,881.10 so far during the day. The stock hit a 52-week low of Rs 2,581.15 on 18 January 2016. The stock had outperformed the market over the past one month till 18 August 2016, rising 10.62% compared with 1.36% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 20.33% as against Sensex's 9.41% rise.
The large-cap company has equity capital of Rs 274.44 crore. Face value per share is Rs 10.
UltraTech Cement said that non-convertible debentures (NCDs) have tenure of 10 years and carry coupon of 7.53% per annum. The deemed date of allotment of NCDs is 22 August 2016 and the maturity date is 21 August 2026.
UltraTech Cement's consolidated net profit rose 29.2% to Rs 780.11 crore on 4.1% growth in net sales to Rs 6537.83 crore in Q1 June 2016 over Q1 June 2015.
UltraTech Cement is a leading cement manufacturer in India. It is a part of the Aditya Birla Group.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
