Ultratech Cement rises over 7% in six days

Ultratech Cement rallied 4.50% to Rs 5,375.15, extending gains for the sixth consecutive session.

Shares of Ultratech Cement jumped 7.25% in six trading sessions from a recent closing low of Rs 5,011.55 on 21 December 2020.

On the technical front, the stock's RSI (relative strength index) stood at 68.546. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day moving average (DMA) placed at 4,857.61 and its 200-day moving average (DMA) placed at 4,051.46.

Ultratech Cement's consolidated net profit surged 113.5% to Rs 1,235.11 crore on 7.6% rise in net sales to Rs 10,354.21 crore in Q2 September 2020 over Q2 September 2019.

UltraTech Cement manufactures a range of products that cater to construction needs from foundation to finish, including Ordinary Portland Cement (OPC), Portland Blast Furnace Slag Cement (PSC), Portland Pozzolana Cement (PPC), white cement including white cement-based products and ready-mix concrete.

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