The cement major on Friday announced that it was declared as the preferred bidder after participating in the e-auction of Ravur Limestone Slock conducted by the Government of Karnataka.
The block is situated in Tehsil Chittapur in district of Kalburgi, Karnataka. The block has a total geological resource of 708 million tonnes of limestone over an area of 7.13 sq kms.Shares of UltraTech Cement were trading 1.03% higher at Rs 7,517.40 on BSE.
UltraTech Cement, part of the Aditya Birla Group, is the third-largest cement producer outside China, and the largest in India by installed capacity.
The company's consolidated net profit rose 0.3% to Rs 1,313.53 crore on 15.7% increase in net sales to Rs 12,016.78 crore in Q2 FY22 over Q2 FY21.
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