Ultratech Cement shares fell 5% after the company announced its entry into the wire and cable segment ₹Established a factory of 18 million in Gujarat.
Stock settled at 4.99% ₹10,420.65 on BSE. Within the day, it fell 6.39% ₹10,266.60.
In NSE, it lowered 4.68% ₹10,450.
The company’s market valuation has decreased ₹15,811.8 million to ₹3,00,847.41 million.
The stock became the largest laggard among Sensex and Nifty companies.
Ultratech Cement announced its entry into the wire and cable segment on Tuesday and will invest ₹In the next two years, a factory was established in Gujarat as part of expanding its footprint in the construction value chain.
According to a statement from Ultratech Cement, the factory will be established near Bharuch, Gujarat and is expected to be commissioned in December 2026.
Aditya Birla Group’s board of directors on Tuesday approved a proposal to expand its footprint in the construction value chain through its construction products division.
Ultratech said this is in line with the company’s strategy to strengthen its position as a provider of integrated construction solutions.”
Last year, Aditya Birla Group entered the decorative paint field by launching the Birla Opus brand.
