UltraTech Cement, the country’s largest grey cement producer, has been on a roll. Over the past five quarters, the stock has gained 41% and its year-to-date performance, too, has been an impressive 21.6%, based on the August 2 closing price of Rs.4089.65. Incidentally, in course of the rally, the Kumar Mangalam Birla group-owned entity has seen its promoter offloading a fraction of the overall holding in the open market. In CY17, promoter entity, Turquoise Investment and Finance, offloaded around 3.05 lakh shares, worth Rs.124 crore, thus bringing
Timed To Perfection
UltraTech Cement promoter entity cashes in on the euphoria around cement stocks
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