Pilani Investment sold a 0.85 per cent stake in UltraTech Cement for Rs 2,896.3 crore, while Thyrocare promoter Docon Technologies sold a 9.9 per cent stake.
According to reports, Pilani Investment and Industries Corporation one of the promoters planned to sell a stake via block deal in UltraTech Cement on Thursday.
Leading cement makers recorded 7-8 per cent volume growth in Q1FY27, but higher fuel, packaging and other input costs offset price gains and weighed on profitability
It is targeting ₹1,500 crore each in the shorter two tranches at annual coupons of 7.22 per cent and 7.23 per cent, respectively, and ₹2,000 crore in the five-year tranche at 7.25 per cent
The cement major will issue up to 500,000 unsecured, listed and redeemable debentures through private placement as it advances a ₹17,000 crore capacity expansion plan
UltraTech Cement on Thursday said it is planning to raise up to Rs 5,000 crore through issuance of non-convertible debentures (NCDs) on a private placement basis. The Finance Committee of the board approved a proposal to raise funds by issuance of up to 5,00,000 non-convertible, non-cumulative debentures of Rs 1,00,000 each, it said in a BSE filing. Further details regarding the tenure, coupon rate and timeline of the tranches are awaited. Earlier this week, UltraTech Cement reported a jump of 17.23 per cent in June quarter consolidated net profit at Rs 2,603.72 crore and 15.85 per cent rise in revenue from operations at Rs 24,648.20 crore. UltraTech leads the cement industry with a total grey cement capacity of 205.5 MTPA and white cement/putty capacity of 3.2 MTPA. It is also planning to foray into the cables and wires business this fiscal.
UltraTech beat Street estimates in Q1FY27, with strong volume growth and stable margins, while management remains confident of sustaining double-digit growth in FY27
Muthuselvaraj M, technical research analyst, Mirae Asset Sharekhan believes that UltraTech Cement stock can gain in the short- to medium-term as momentum indicators are showing strength on the chart.
UltraTech Cement reported a 16.8 per cent increase in net profit for the first quarter to ₹2,599.3 on a year-on-year basis. Revenue for the quarter was up 15.9 per cent to ₹24,648.20 crore.
Revenue from operations rose 15.9 per cent to ₹24,648.20 crore, while domestic sales volumes increased 13.1 per cent and capacity utilisation stood at 81 per cent
Q1FY27 company results: Firms including Indian Overseas Bank, Sobha, Mahindra Logistics, Canara HSBC Life Insurance Company, and Rallis India are also to release their April-June earnings today
On the overall market set-up, Ajit Mishra, SVP - Research at Religare Broking reckons to maintain a 'Buy-on-dips' approach, with a preference for relatively stronger stocks across sectors.
While cement demand remains resilient and volumes are growing, rising input costs, capacity additions and geopolitical risks could weigh on profitability
Rising fuel and packaging costs linked to the conflict may weigh on the sector's margins
Strong Q4 performance, rising margins and aggressive capacity expansion plans position UltraTech Cement to sustain growth, aided by robust demand outlook and cost discipline
Firms such as Reliance Industries, Axis Bank, UltraTech Cement, Coal India, Hindustan Zinc, and Varun Beverages are among the major names announcing dividends
UltraTech Cement posts strong Q4FY26 results, but analysts stay cautious due to cost pressures, capacity expansion risks, and sector headwinds
UltraTech Cement posts strong Q4 profit on volume growth, but rising input costs from West Asia tensions remain a near-term margin headwind
Consolidated net profit rose 20.2 per cent year-on-year to ₹2,983 crore for the three months ended March 31
Q4FY26 company results: Firms including Adani Total Gas, AU Small Finance Bank, Bajaj Housing Finance, and Mahindra Holidays & Resorts are also to release their January-March earnings today