Financial

UltraTech Cement Outperforms Market on Strong Trading Day

Shares of UltraTech Cement Ltd. rose 1.02% to 9,915.25 Indian rupees on February 16, 2024, on what proved to be an all-around great trading session.

UltraTech Cement Ltd., an Indian cement company, outperformed the market on February 16, 2024, with its shares rising 1.02% to 9,915.25 Indian rupees. The company's stock closed 607.40 rupees below its 52-week high (10,522.65 rupees), which the company reached on December 29, 2023.

The stock demonstrated a mixed performance when compared to some of its competitors on Friday, as Prism Johnson Ltd. trading volume remained 4,871 below its 50-day average volume of 9,4151.UltraTech Cement is the largest cement producer in India and the 10th largest in the world, with a production capacity of 120.5 million tonnes per annum. The company has a presence in five countries, including India, the UAE, Bahrain, Bangladesh, and Sri Lanka.

UltraTech Cement is committed to sustainable development and has implemented several initiatives to reduce its carbon footprint, including the use of alternative fuels and raw materials, waste heat recovery systems, and renewable energy sources.

Source: MarketWatch

Al Jouf Cement Initiates Liquidation of EICO Subsidiary

Al Jouf Cement has begun the liquidation process of its subsidiary, Eastern Industrial Co. (EICO), reflecting a strategic shift and potential financial recovery.

Huaxin Cement (600801) Net Sell of 1.327 Million Yuan by Major Funds on March 18

On March 18, 2024, Huaxin Cement (600801) experienced a net outflow of major funds amounting to 1.327 million yuan, with the stock closing at 13.47 yuan, marking a decrease of 0.44%.

Cementos Argos Approved Conversion of Preferred Shares into Ordinary Shares

In a significant move during its shareholders' meeting, Cementos Argos, a leading cement company under the Argos Group, has approved the conversion of preferred shares into ordinary shares.

Read next