UltraTech Cement, the biggest player in the cement segment, started the day off to a flourishing start. The Mumbai-based company shot off to new heights at Dalal Street after the company expanded its capacity.
UltraTech Expands Capacity
The Aditya Birla group-owned company has expanded its production capacity by 1.2 MTPA or million tonnes per annum.
This major expansion plan is a constituent of a 0.8 MTPA increase at the Integrated Unit in Hirmi, Chhattisgarh.
In addition, the Roorkee facility in Uttarakhand will also have a 0.4 MTPA expansion at the grinding unit.
Some of the other expansion plans include increasing capacity in Bihar, Rajasthan and Madhya Pradesh.
The Aditya Birla group-owned company has expanded its production capacity by 1.2 MTPA or million tonnes per annum. This | Representational Image
The Wire Expansion
This also comes at a time when the largest cement company in the country has also signalled its foray into the now competitive cable and wires market. The company is reportedly gearing to infuse Rs 1,800 crore into its ambitions in the market.
This led to a major freefall of stocks in the cable and wires segment.
When we look at the performance of the company shares in the intraday trade on Tuesday, it started on a blistering note at Rs 11,240.00, higher than the previous day's closing of Rs 11,051.20 per share.
UltraTech Cement Ltd Shares Today
After a little niggle, hitting the day's low of Rs 11,204.70 per share, the Ultratech company shares only soared and continued to expand with momentum.
At the time of writing, the gains made by the company shares amounted to 3.20 per cent or Rs 353.95 per share. This took the overall value of the company shares to Rs 11,405.15.
In the past fierve trading sessions, the overall gains made by the company shares amount to Rs 640.65 or 5.95 per cent.
This stock's 52-week high stands at Rs 12,145.35 per share, compared to its 52-week low of Rs 9,250.00 per piece.
