Shares of UltraTech Cement were trading in the red and 1% lower on 26 March despite the company announcing the commissioning of a 1 million tonnes per annum brownfield cement facility at Roorkee, Uttarakhand and taking the unit’s capacity up to 2.1 million tonnes per year (MTPA).

The business can now produce 138.39 MTPA of grey cement overall in India with this commissioning.

Earlier on 20 March, the Competition Commission of India (CCI) gave the nod to the company to buy Kesoram Cement from Kesoram Industries.

The company in its filing added, “The proposed combination relates to the acquisition of the grey cement business of Kesoram Industries Limited by UltraTech Cement Ltd under a composite scheme of arrangement dated 30 November 2023.”

In October 2023, the company announced its plan to invest Rs 13,000 crore for adding 21.9 million tonnes to its existing capacity through a combination of brownfield and greenfield expansion.

Furthermore, in the last seven years, the company has invested more than Rs 50,000 crore and has acquired several smaller cement units that include the assets of Jaiprakash Associates over the last few years.

In the third quarter of FY24, UltraTech Cement recorded a 67% increase in net profit, totaling Rs 1,774.78 crore.

At 3:30 pm, the shares of UltraTech Cement closed 0.84% lower at Rs 9,600 on NSE.