Buzzing stock: UltraTech Cement nears 52-week high; stock climbs 1.79 per cent

UltraTech Cement announced on Wednesday after the market hours that it will consider a fundraising proposal at its board meeting, scheduled to be held on January 23, 2021. 

Reacting to this, the stock of the company increased by 1.79 per cent today and made an intraday high of Rs 5,645 per share. 

Besides, it has recovered by 87.42 per cent from its sharp decline in March 2020. UltraTech Cement reported a net profit of Rs 1,234.95 crore in Q2FY21, an increase of 113.37 per cent. It had reported a profit of Rs 578.79 crore in Q2FY20. The company reported net sales of Rs 10,354.21 crore for Q2FY21, an increase of 7.69 per cent as against the net sales of Rs 9,615.12 crore for Q2FY20. 

UltraTech Cement Ltd is the largest manufacturer of grey cement, RMC, and white cement in India. 

According to BSE data, the stock traded at a P/E multiple of 28.77 and a price-to-book ratio of 4.01. The stock has a 52-week high and a 52-week low of Rs 5,695.10 and Rs 2,913.15, respectively. 

At 2.06 pm, the stock of UltraTech Cement was trading at Rs 5,608.35, up by 1.13 per cent on BSE.