HomeMarket NewsUltraTech Cement shares hit fresh 52-week high, rise 9% in 2023 so far

UltraTech Cement shares hit fresh 52-week high, rise 9% in 2023 so far

At Friday’s new 52-week high, shares of UltraTech Cement are trading 47.8 percent higher from their last 52-week low value of Rs 5,158.05 apiece. The stock has gained 9 percent in 2023, so far and nearly 15 percent in the past one year period.

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By CNBCTV18.com March 31, 2023, 2:53:10 PM IST (Published)

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UltraTech Cement shares hit fresh 52-week high, rise 9% in 2023 so far
Aditya Birla Group's UltraTech Cement Ltd recorded a new 52-week high at Rs 7,624.45 apiece on the Bombay Stock Exchange (BSE) in intraday trade on Friday. The company's shares opened marginally-higher on the stock exchange from its previous close of Rs 7,570.75 per piece on Wednesday.

The stock has gained 9 percent in 2023, so far and nearly 15 percent in the past one year period.


At Friday’s new 52-week high, shares of UltraTech Cement are trading 47.8 percent higher from their last 52-week low value of Rs 5,158.05 apiece.


Last month, the cement major announced the commissioning a total of 1.3 million tonne per annum brownfield cement capacity at Hirmi in Chhattisgarh and 2.8 million tonne per annum greenfield grinding capacity at Cuttack, Odisha.


Following the said commission, the company’s total cement manufacturing capacity in India now stands at 126.95 million tonne per annum.


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For the quarter ended on December 31, 2022, UltraTech Cement reported a consolidated net profit of Rs 1,058.2 crore, falling 38 percent on a year-on-year basis, and lower than the CNBC-TV18 poll projection of Rs 1,110 crore.


Its total revenue surged by 19.5 percent to Rs 15,520.9 crore compared to Rs 12,985 crore in the same period last year, also higher than the estimated figure of Rs 15,210 crore.


However, UltraTech Cement's margin dropped 350 basis points in the December 2022 quarter to 15.1 percent from 18.6 percent in the year-ago period, which was lower than the CNBC-TV18 poll estimate of 15.7 percent.


Shares of UltraTech Cement were trading 0.7 percent higher on the BSE at Rs 7,626.15 apiece around 2.35pm.


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