UltraTech Cement turns volatile after announcing Q4 results

UltraTech Cement rose 0.1% to Rs 3,274.20 at 15:21 IST on BSE after consolidated net profit rose 10% to Rs 723 crore on 5.1% growth in net sales to Rs 6850 crore in Q4 March 2016 over Q4 March 2015.

The result was announced during market hours today, 25 April 2016.

Meanwhile, the S&P BSE Sensex was down 156.04 points or 0.6% at 25,682.10.

On BSE, so far 47,000 shares were traded in the counter as against average daily volume of 24,284 shares in the past one quarter. The stock was volatile. The stock rose as much as 1.65% at the day's high of Rs 3,325 so far during the day. The stock lost as much as 0.33% at the day's low of Rs 3,259.75 so far during the day. The stock had hit a record high of Rs 3,452.95 on 20 April 2016. The stock had hit a 52-week low of Rs 2,530.80 on 7 May 2015. The stock had outperformed the market over the past one month till 22 April 2016, gaining 2.16% compared with Sensex's 2% rise. The scrip had also outperformed the market in past one quarter, advancing 20.3% as against Sensex's 5.74 % rise.

The large-cap company has equity capital of Rs 274.43 crore. Face value per share is Rs 10.

With regard to the company's future business outlook, UltraTech Cement said that cement demand is expected to grow 7-8% for FY 2017 on the back of the Government's focus on infrastructure development, housing, smart cities etc., all of which augur well for the company. UltraTech Cement said it is confident of meeting the upsurge in cement demand.

UltraTech Cement said that the company's ongoing capex program is on track.

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

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