UltraTech Cement Adds 1-MTPA Capacity in Roorkee, Shares Dip Slightly

26 Mar 2024 , 12:43 PM

UltraTech Cement’s shares experienced a slight decline in the opening hours of March 26 following the announcement of commissioning a 1-MTPA brownfield cement capacity in Roorkee, Uttarakhand.

The new addition has boosted the unit’s capacity to 2.1 million tonnes per annum (MTPA). At the time of writing, the stock was trading at ₹9591.40 in the NSE, which is a 0.93% dip then the previous close.

With this commissioning, the company’s total grey cement manufacturing capacity in India has increased to 138.39 MTPA.

On March 20, the Competition Commission of India (CCI) approved UltraTech Cement’s proposed acquisition of Kesoram Cement business from Kesoram Industries.

The acquisition involves the grey cement business of Kesoram Industries Limited under a composite scheme of arrangement dated November 30, 2023, as per the company’s regulatory filing.

UltraTech Cement reported a significant 67% increase in net profit in the third quarter of FY24, reaching ₹1,774.78 Crore. 

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