Shares of Ultratech Cement on Thursday dropped 5 per cent after the agency introduced its entry into the wires and cables phase with an funding of ₹1,800 crore to arrange a plant in Gujarat.
The inventory tanked 4.99 per cent to settle at ₹10,420.65 on the BSE. Intra-day, it slumped 6.39 per cent to ₹10,266.60.
On the NSE, it declined 4.68 per cent to ₹10,450.
The corporate’s market valuation diminished by ₹15,811.8 crore to ₹3,00,847.41 crore.
The inventory emerged as the largest laggard among the many Sensex and Nifty companies.
Ultratech Cement on Tuesday introduced its entry into the wires and cables phase and can make investments ₹1,800 crore to arrange a plant in Gujarat over the subsequent two years as a part of plans to broaden its footprint within the building worth chain.
The plant can be arrange close to Bharuch in Gujarat and is predicted to be commissioned by December 2026, in line with a press release from UltraTech Cement.
The board of the Aditya Birla Group agency on Tuesday accredited the proposal to increase its footprint within the building worth chain, by its Constructing Merchandise Division.
That is in accordance with the “firm’s technique to strengthen its place as a complete Constructing Options supplier,” mentioned UltraTech.
Final 12 months, Aditya Birla Group entered into the ornamental paints phase by launching the model Birla Opus.
