Ultratech Cement gains after board reconstitution

Ultratech Cement rose 1.13% to Rs 3,921.30 after the company appointed Kailash Chandra Jhanwar as managing director of the company with effect from 1 January 2020.

Krishna Kishore Maheshwari will be appointed as non-executive vice chairman upon his relinquishing office as managing director on 31 December 2019. Maheshwari has been managing director of the company since 2016. Upon his appointment as non-executive vice chairman, Maheshwari will cease to be a key managerial personnel of the company. The announcement was made before trading hours yesterday, 4 September 2019.

Shares of Ultratech Cement fell 6.25% in the past five trading sessions to settle at Rs 3,877.55 yesterday, 4 September 2019, from its close of Rs 4,136.40 on 27 August 2019.

On BSE, 6,992 shares were traded in Ultratech Cement counter, compared to a 2-week average of 30,000 shares. The share price hit an intraday high of Rs 3,927.40 and an intraday low of Rs 3,872.75.

It hit a 52-week high of Rs 4,903.90 on 27 May 2019 and a 52-week low of Rs 3263.70 on 23 October 2018.

Ultratech Cement is engaged in the business of cement and cement-related products.

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