The shares of this large-cap company gained up to 0.5 percent after the company expressed interest in acquiring the cement asset of kesoram Industries Ltd.
With a market capitalization of Rs 2,48,820.49 Crores. UltraTech Cement Ltd, On Friday, The shares were trading at Rs 8,619.05 a share, an increase of 0.14 percent from the previous closing price.
According to the CNBC, UltraTech Cement Ltd expressed interest in acquiring the cement asset of kesoram Industries Ltd, but UltraTech is currently exploring both options – either buying out the stake of Kesoram’s existing promoters or an acquisition of Kesoram’s cement business.
In addition to the above para, Producing everything from rayon to cement, Kesoram Industries is a BK Birla Group company. It produces carbon disulfide, sulfuric acid, sodium sulfate, and fire bricks. A significant portion of the company’s revenue comes from cement.
Looking into the company’s performance, UltraTech Cement Ltd’s revenue increased by 15.25 percent from Rs 13,892.69 Crore in Q2FY23 to Rs 16,012.13 Crore in Q2FY24. During the same period, net profits increased by 68 percent from Rs 760.19 crore to Rs 1,276.89 crore.
UltraTech Cement Ltd’s reported return ratios in the recent financial year with a return on equity (ROE) of 9.7 percent and a return on capital employed (ROCE) of 13.2 percent.
UltraTech Cement Ltd’s recent shareholding pattern, The Promoters of The company own 59.96 percent while Retail shareholders own a 7.78 percent stake in the company and Foreign Institutional Investors own a 16.64 percent stake.
The stock has delivered a return of 12.62 percent in six months and 25.65 percent in a year. Mostly in India, UltraTech Cement is a cement and cement-related product manufacturer and seller.
Written by:- Abhishek Singh
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