UltraTech Cement moves up on getting environment ministry’s nod for a project in Andhra Pradesh

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Ultratech Cement is currently trading at Rs. 4615.80, up by 15.15 points or 0.33% from its previous closing of Rs. 4600.65 on the BSE.

The scrip opened at Rs. 4616.00 and has touched a high and low of Rs. 4630.50 and Rs. 4590.85 respectively. So far 2115 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 4903.90 on 27-May-2019 and a 52 week low of Rs. 3263.70 on 23-Oct-2018.

Last one week high and low of the scrip stood at Rs. 4697.85 and Rs. 4538.85 respectively. The current market cap of the company is Rs. 126641.05 crore.

The promoters holding in the company stood at 61.69%, while Institutions and Non-Institutions held 27.83% and 10.41% respectively.

UltraTech Cement has received approval from environment ministry for Rs 2,500 crore project in Andhra Pradesh. Under the project, the company will set up an integrated cement plant at Petnikote village in Kurnool district with a clinker capacity of 4 million tonnes per annum (MTPA), 6 MTPA of cement, 60 mega watts of a captive power plant and 15 mega watts of waste heat recovery-based power unit.

The company has already acquired 431.92-hectare land for the project, which is estimated to cost Rs 2,500 crore and generate employment for 900 persons. The company will have to get ‘consent to establish and operate’ from the Andhra Pradesh Pollution Control Board.

UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India. It is also one of the leading cement producers globally. UltraTech as a brand embodies strength, reliability and innovation.

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