UltraTech Cement rises on plan to acquire 100% stake in GKUPL

24 Jul 2012

UltraTech Cement is currently trading at Rs. 1602.00, up by 5.75 points or 0.36% from its previous closing of Rs. 1596.25 on the BSE.

The scrip opened at Rs. 1600.00 and has touched a high and low of Rs. 1608.95 and Rs. 1598.00 respectively.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1608.95 on 24-Jul-2012 and a 52 week low of Rs. 941.05 on 09-Aug-2011.

Last one week high and low of the scrip stood at Rs. 1608.95 and Rs. 1550.00 respectively. The current market cap of the company is Rs. 43,908.00 crore.

The promoters holding in the company stood at 63.34% while Institutions and Non-Institutions held 23.97% and 10.68% respectively.

UltraTech Cement has signed an agreement with the shareholders of Gotan Lime Stone Khanij Udyog (GKUPL), Rajasthan to acquire 100% equity shares of GKUPL. With this acquisition, GKUPL has become a wholly owned subsidiary of the company.

UltraTech manufactures and markets Ordinary Portland Cement, Portland Blast Furnace Slag Cement and Portland Pozzalana Cement. The company has 11 integrated plants, one white cement plant, one clinkerisation plant in UAE, 15 grinding units - 11 in India, 2 in UAE, one in Bahrain and Bangladesh each and five terminals, four in India and one in Sri Lanka.

On the standalone basis, the company has posted a rise of 13.95% in its net profit at Rs 778.39 crore for the quarter ended June 30, 2012 as compared to Rs 683.11 crore for the same quarter in the previous year.  Total income has increased by 16.44% at Rs 5090.86 crore for quarter under review as compared to Rs 4372.03 crore for the quarter ended June 30, 2011.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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