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Ultratech Cement adds 10% in four days

Capital Market 

Ultratech Cement rose 3.21% to Rs 6708.15, extending gains for the fourth session.

The stock has added 9.71% in four sessions from its recent closing low of Rs 6,114.60 on 26 February 2021.

In the past one year, the stock has zoomed 60.47% while the benchmark Sensex has added 33.07% during the same period.

The scrip has gained 130.27% from its 52-week low of Rs 2,913.15 hit on 25 March 2020. The scrip surged 5.09% to hit the day's high at Rs 6,830.40 in trade today, which is a record-high for the counter.

On the technical front, the stock's RSI (relative strength index) stood at 76.928. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock is trading above its 50-day, 100-day and 200-day daily simple moving average (SMA) placed at 6397.45, 6368.80 and 6190.75, respectively.

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.

The company reported 122.8% surge in consolidated net profit to Rs 1584.58 crore on 17.4% increase in net sales to Rs 12,254.12 crore in Q3 December 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, March 04 2021. 14:14 IST