Friday, 5 August 2016

Market cheers UltraTech bold move

UltraTech Cement will issue two separate sets of secured redeemable NCDs amounting to Rs 175 crore and Rs 250 crore respectively, each on private placement basis. NCDs with issue size of Rs 250 crore has tenure of 5 years and NCDs with issue size of Rs 175 crore has tenure of 3 years. Both the sets of NCDs offer coupon rate of 7.57% per annum. Its consolidated net profit rose 29.2% to Rs 780.11 crore on 4.1% growth in net sales to Rs 6537.83 crore in Q1 June 2016 over Q1 June 2015. Market rewarded the move with the scrip gaining 4.5%

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