Ultra Tech profit rises to Rs 780 crores in first quarter


UltraTech Cement account a 29 percent increase in its net profit for the June quarter ended 2016. The Aditya Birla Group Corporation’s net sales increase 4 percent to Rs. 780 crore as next to Rs. 6,281 crore throughout the year before period, according to its narrow sleeve with the Bombay Stock Exchange (BSE). The corporation net profit for the June 2015 quarter stood at Rs. 604 crore. On Wednesday shares of India's major cement company by capability were buying and selling at Rs. 3,539 respectively, up 0.97 percent from their preceding shut on the BSE.  UltraTech Cement has a yearly cement capacity of 63 million tonnes. It is the largest maker of white cement and ready mix concrete in the nation. The corporation was positive of the industry's prospects in the present financial, given the administration infra push.

Indian Rupee lowers 5 paise to 67.15 against US Dollar

The Company has also further conveyed that, through the year cement demand is expected to increase approximately seven percent, given the government's focus on infrastructure development, housing sector, smart cities, roads. Though, brokerage Angel Broking did not split the bullish tone of the corporation. On Wednesday Siddharth Purohit, Equity Research Analyst- Cement, Angel Broking has also further conveyed that, the quantity expansion subsequent to picking up in Q4FY16 has increased seems to be cooling off while understanding are still not in an uptrend. On July 4, UltraTech cement alters its deal with Jaiprakash associates and Jaypee Cement to acquire 21.1 million tonnes of cement business. Beneath the revised concord, UltraTech Cement will pay Rs. 16,189 crore as next to Rs. 15,900 crore agreed upon in March this year. The Company also further conveyed in a report that, the transaction, which is theme to the support of shareholders and creditors, elevated courts and all other regulatory approvals as may be necessary, will be finished within the next 12 months.

Dr. Reddy’s launches generic Zegerid, helps stomach ulcer treatment