UltraTech Cement rebounds 5% from day's low on strong Q4 results

The company's net sales during the quarter rose 18 per cent year on year (YoY) at Rs 10,334 crore while domestic sales volume jumped 16 per cent YoY to 20.47 million tonnes

UltraTech Cement shares rose 2.4 per cent at Rs 4,305 in intra-day trde on the BSE after the company reported more-than-doubled standalone net profit at Rs 1,017 crore in the March quarter (Q4FY19), on the back of strong volume growth. The country’s largest cement company had a profit of Rs 488 crore in the same quarter an year ago.

The stock bounced back 5 per cent from its intra-day low of Rs 4,116 on the BSE. The trading volumes on the counter jumped three-fold with a combined 1.35 million shares changing hands on the NSE and BSE till 02:37