UltraTech Cement surged 4.44% to Rs 4,144.85 at 14:25 IST on BSE after consolidated net profit declined 11.24% to Rs 726 crore on 2.59% growth in net sales to Rs 6922 crore in Q4 March 2017 over Q4 March 2016.
The result was announced during market hours today, 24 April 2017.Meanwhile, the S&P BSE Sensex was up 299.72 points or 1.02% at 29,665.02.
On the BSE, 42,000 shares were traded on the counter so far as against the average daily volumes of 25,218 shares in the past one quarter. The stock had hit a high of Rs 4,206.80 so far during the day, which is a record high. The stock hit a low of Rs 3,978.30 so far during the day.
The stock had hit a 52-week low of Rs 3,050 on 11 May 2016. It had underperformed the market over the past one month till 21 April 2017, sliding 0.92% compared with the Sensex's 0.41% fall. The scrip had, however, outperformed the market over the past one quarter, gaining 14.37% as against the Sensex's 8.62% rise.
The large-cap company has equity capital of Rs 274.51 crore. Face value per share is Rs 10.
The company's consolidated profit before interest, depreciation and tax (PBIDT) fell 1.74% to Rs 1577 crore in Q4 March 2017 over Q4 March 2016.
UltraTech said that work on setting up the 3.5 million tonnes per annum (MTPA) integrated cement plant at Dhar, Madhya Pradesh is on track. Commercial production is expected to commence from Q4 of FY 2019.
With this expansion and the acquisition of the cement plants of Jaiprakash Associates, the company's cement capacity will stand augmented to 95.4 MTPA, including its overseas operations.
UltraTech Cement's board recommended a dividend of Rs 10 per share for the year ended March 2017 (FY 2017).
UltraTech Cement is a leading cement manufacturer in India. It is a part of the Aditya Birla Group.
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