UltraTech Cement shares drop 2.08% in weak market session
Updated
Updated · MarketWatch · Apr 30
UltraTech Cement shares drop 2.08% in weak market session
14 articles · Updated · MarketWatch · Apr 30
The stock closed at 11,582.80 rupees as the BSE Sensex fell 0.75% to 76,913.50 on Thursday.
UltraTech underperformed peers, with Prism Johnson rising 1.19%, ACC slipping 1.01% and KCP gaining 0.86%.
The shares finished 11.61% below their 52-week high of 13,104 rupees reached on 10 February, while trading volume rose to 59,388 against a 50-day average of 18,502.
Analysts predict a rally for UltraTech, but foreign investors are fleeing. Who is right about the cement giant's future?
Will India's infrastructure boom trigger record profits for cement makers or a devastating price war from a massive supply glut?