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UltraTech Cement rises on receiving RBI nod to hike FII stake to 30%

31 Aug 2016

UltraTech Cement is currently trading at Rs. 4008.80, up by 120.15 points or 3.09% from its previous closing of Rs. 3888.65 on the BSE.

The scrip opened at Rs. 3903.05 and has touched a high and low of Rs. 4023.05 and Rs. 3903.05 respectively. So far 4,037 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4023.05 0 on 31-Aug-2016 and a 52 week low of Rs. 2581.15 on 18-Jan-2016.

Last one week high and low of the scrip stood at Rs. 4023.05 and Rs. 3763.70 respectively. The current market cap of the company is Rs. 1,09,691.89 crore.

The promoters holding in the company stood at 62.27%, while Institutions and Non-Institutions held 26.92% and 10.55% respectively.

UltraTech Cement has received an approval from the Reserve Bank of India (RBI), whereby the apex bank has notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 30% of the paid up capital of the company under the Portfolio Investment Scheme (PIS).

The purchases could be made through primary market and stock exchanges and would be subject to Regulation and other terms and conditions stipulated by the Reserve Bank.

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.

Related Ultratech Cement Ltd. Links:

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