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UltraTech Stock gains over 5pc after strong set of numbers

Shares of UltraTech Cement gained 5.57pc or Rs233.75 to quote share price at Rs.4,432  on Wednesday after the cement major reported a strong set of earning numbers.  The stock emerged as the top gainers, among nifty stocks, on Wednesday.

The other gainers followed in the index were Bharat Petroleum, HCL Tech, IndusInd Bank and ONGC.

The rise in Ultratech share price was on the back of strong revenue growth reported by the company. It has reported consolidated revenue growth of 17.4percnet, year-on-year basis, to Rs10,905.2-crore. EBITDA was reported showing a growth of 31-pc, year-on-year to Rs.2,332.5-crore, i.e about 15pc ahead of estimates. EBITDA margin has widened by 222-base points, year on year to 21.4-pc.  It has reported a 127.4-pc YoY growth in profit after tax  to Rs.1,014.5-crore.

The BSE Sensex was up 489.80PTS at 39,054-level, while Nifty was up 150-ptss at 11,726.20 on closing.