Ultratech continues to soar
By
Research Desk
about 9 years ago
Ultratech Cement has been hitting new highs consistently. Yesterday, it hit a new high at Rs.3890 and today too, it was another new high at Rs.3953.60.
The market is happy about the company’s decision to issue secured redeemable non-convertible debentures (NCDs) amounting of Rs 500 crore on private placement basis.
The good news for the market is that these debentures will be listed on the NSE with deemed date of allotment on August 22, 2016.
These debentures have a 10-year maturity period – 21st August 2026 and is offering interest rate of 7.53% pa.