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UltraTech starts Ultravolt after Rs 1,800 crore outlay
The Hindu BusinessLine··4 Sept
UltraTech Cement's Ultravolt wires and cables unit began commercial production on September 1 after an initial Rs 1,800 crore investment. The Jhagadia plant in Gujarat's Bharuch district has installed capacity of 1.1 million km. UltraTech said on September 2 it plans more than 600 electric trucks by December 2026. Shares traded up 0.47 percent at Rs 11,328 on Friday morning.
Prism
What It Means For You
- Ultravolt's commercial production start date is September 1, ahead of an earlier December timeline.
- The company aims to be among the top two players in the wires segment within five years.
- EV truck plans target transport of five million MT of clinker a year by December 2026.
What's Happening
- The manufacturing plant is at Jhagadia in Bharuch district with 1.1 million km installed capacity.
- Morgan Stanley noted about Rs 890 crore already deployed by June-end against the Rs 1,800 crore budget.
- BusinessLine said the stock opened at Rs 11,357 and touched Rs 11,434 early Friday.
Share Price Snapshot
- At the reported prices UltraTech's trailing P/E was listed at 38.76.
- The stock was down about 10.45 percent over the past year versus a 3.11 percent Nifty 50 decline.
- Its 52-week high was listed at Rs 13,110 in February.
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