Ultratech Cement on Wednesday witnessed a 4 per cent jump in its shares, this on a day when the Sensex crossed the 72,000 mark for the first time and National Stock Exchange (NSE) index hit an all-time high of 21,654.75.
The shares of the cement manufacturer hit an all-time high of ₹10,489.40 before closing at ₹10,445 on the day. Ultratech Cement was the biggest gainer of the day, followed by giants like JSW Steel, Tata Motors, Bharti Airtel, State Bank of India, Larsen & Toubro, Infosys and Bajaj Finserv.
The shares of Ultratech Cement had hit an all-time low of ₹6,605 on January 27 this year.
The company’s market capitalisation has now crossed the ₹3 lakh crore mark, placing it as the 20th in the list of top 100 companies by market capitalisation on the BSE. Reliance Industries Limited, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank and Infosys are the top five companies in terms of market capitalisation.
In the past four days of market rally, the investors have become richer by ₹11.11 lakh crore. In four days, the Sensex has jumped 1,532.12 points or 2.17 per cent.
The market capitalisation of BSE-listed companies also soared by
₹11,11,599.28 crore to ₹3,61,31,598.15 crore in four days.
“Strong global market undercurrent coupled with India’s robust macro performance in past few quarters gave investors ample ammunition to go ballistic on India’s equities as Sensex reached a new milestone level of 72k mark led by gains in banking, auto and metal stocks,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, told PTI.
Recently, Ultratech Cement had announced its plans to increase the overall share of green energy in its total energy mix to 85 per cent by 2030.
The AV Birla Group firm said it is planning to increase its total green energy share from its current 22 per cent to 60 per cent by FY26.