UltraTech Cement gains on inking MoU with Coolbrook

UltraTech Cement is currently trading at Rs. 5501.00, up by 19.20 points or 0.35% from its previous closing of Rs. 5481.80 on the BSE.

ultratech cement gains on planning to sell stake in ecbl epcl to heidelbergcement
ultratech cement gains on planning to sell stake in ecbl epcl to heidelbergcement

The scrip opened at Rs. 5450.00 and has touched a high and low of Rs. 5518.30 and Rs. 5411.00 respectively. So far 5791 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 8267.00 on 08-Nov-2021 and a 52 week low of Rs. 5411.00 on 07-Jun-2022.

Last one week high and low of the scrip stood at Rs. 5733.50 and Rs. 5411.00 respectively. The current market cap of the company is Rs. 157765.83 crore.

The promoters holding in the company stood at 59.96%, while Institutions and Non-Institutions held 30.47% and 9.04% respectively.

UltraTech Cement has signed a Memorandum of Understanding (MoU) with Coolbrook, a transformational technology and engineering company, to explore possibilities on reduction of CO2 emissions from its cement manufacturing operations.

UltraTech and Coolbrook shall jointly explore the use of Coolbrook’s Roto Dynamic Heater (RDH), an innovative application based on its revolutionary roto dynamic technology, to electrify cement kiln heating process.

Both the companies will collaborate to develop optimal electric process heating solutions for cement manufacturing process replacing fossil fuels.

UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India.

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