UltraTech Cement gains after good Q1 results

UltraTech Cement advanced 0.88% to Rs 4,385.45 at 13:59 IST on BSE after consolidated net profit rose 15% to Rs 897 crore on 6.16% growth in net sales to Rs 6938 crore in Q1 June 2017 over Q1 June 2016.

The result was announced during market hours today, 18 July 2017.

Meanwhile, the S&P BSE Sensex was down 249.76 points or 0.78% at 31,825.02.

On the BSE, 45,000 shares were traded on the counter so far as against the average daily volumes of 14,308 shares in the past one quarter. The stock had hit a high of Rs 4,451.05 and a low of Rs 4,365 so far during the day. The stock had hit a record high of Rs 4,531 on 16 May 2017 and a 52-week low of Rs 3,052 on 27 December 2016.

The stock had outperformed the market over the past one month till 17 July 2017, advancing 5.63% compared with the Sensex's 3.28% rise. The stock had, however, underperformed the market over the past one quarter, gaining 8.78% as against the Sensex's 9.05% rise. The scrip had outperformed the market over the past one year, advancing 23.34% as against the Sensex's 15.23% rise.

The large-cap company has equity capital of Rs 274.52 crore. Face value per share is Rs 10.

The company's consolidated profit before interest, depreciation and tax (PBIDT) rose 10.57% at Rs 1798 crore in Q1 June 2017 over Q1 June 2016.

In its outlook, UltraTech said that the government spending on infrastructure, rural and affordable housing will be the key demand drivers for cement. The company added that it is well positioned across the country to cater to the demand.

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

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