Tuesday, 25 April 2017

Ultratech Cement extends rally; scrip hits 52-week high

Shares of Ultratech Cement continued gaining streak for the second day on Tuesday and rose nearly 2 per cent, hitting a 52-week high, on the Bombay Stock Exchange undermining weak earnings report. A part of the Aditya Birla Group and division of Grasim Industries, the company has reported an 11.24 per cent decline in its consolidated net profit at Rs 726 crore during the January-March quarter of 2017-18, compared to Rs 818 crore in the corresponding quarter of previous fiscal. Extending previous session rally, shares of the company gained as much as 1.90 percent to hit a 52-week high of Rs 4229.00 apiece on the Bombay Stock Exchange.

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