UltraTech Cement edges lower after announcing Q2 results

UltraTech Cement fell 0.1% to Rs 4,014.50 at 13:45 IST on BSE after consolidated net profit rose 25.05% to Rs 614 crore on 2.53% decline in net sales to Rs 5709 crore in Q2 September 2016 over Q2 September 2015.

The result was announced during trading hours today, 17 October 2016.

Meanwhile, the BSE Sensex was down 103.32 points, or 0.38%, to 27,568.97.

High volumes were witnessed on the counter. On BSE, so far 46,150 shares were traded in the counter, compared with average daily volume of 13,325 shares in the past one quarter. The stock hit a high of Rs 4,069.55 and a low of Rs 3,965 so far during the day. The stock hit a record high of Rs 4,130 on 8 September 2016. The stock hit a 52-week low of Rs 2,581.15 on 18 January 2016. The stock had outperformed the market over the past one month till 14 October 2016, gaining 2.37% compared with Sensex's 2.46% fall. The scrip had also outperformed the market in past one quarter, gaining 15.37% as against Sensex's 0.96% decline.

The large-cap company has equity capital of Rs 274.45 crore. Face value per share is Rs 10.

Separately, UltraTech Cement announced after market hours on Friday, 14 October 2016 that it is proposing to issue secured redeemable non-convertible debentures (NCDs) amounting to Rs 300 crore on private placement basis. The NCDs have tenure of 5 years and will be allotted on 18 October 2016. NCDs carry coupon of 7.15% per annum.

UltraTech Cement is a leading cement manufacturer in India. It is a part of the Aditya Birla Group.

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