UltraTech Cement gains on fund raising plans

UltraTech Cement gained 0.46% to Rs 3,656.35 at 14:15 IST on BSE after the company said that it is proposing to raise Rs 300 crore by issuing 3,000 secured redeemable non-convertible debentures on private placement basis.

The announcement was made during trading hours today, 25 July 2016.

On BSE, so far 5,521 shares were traded in the counter as against average daily volume of 21,881 shares in the past one quarter. The stock hit high of Rs 3,658.95 and low of Rs 3,613.80 so far during the day. The stock had hit a record high of Rs 3,665 on 21 July 2016. The stock had 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 22 July 2016, gaining 9.69% compared with Sensex's 3.88% rise. The scrip had also outperformed the market in past one quarter, rising 11.27% as against Sensex's 7.61% rise.

The large-cap company has equity capital of Rs 274.44 crore. Face value per share is Rs 10.

UltraTech Cement said that the tenure of non-convertible debentures (NCDs) will be 3 years and 17 days. NCDs hold a coupon rate of 7.57% per annum. NCDs will be allotted on 27 July 2016. They will mature on 13 August 2019.

UltraTech Cement's consolidated net profit rose 29% to Rs 780 crore on 4% growth in net sales to Rs 6538 crore in Q1 June 2016 over Q1 June 2015.

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

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