UltraTech emerges as preferred bidder for Ravur Limestone Slock bid

Cement manufacturing major UltraTech Cement has announced that the company has been selected as the preferred bidder in the e-auction of Ravur Limestone Slock, conducted by the Karnataka government. It is situated in Tehsil Chittapur in the Kalburgi district of Karnataka. The block is spread across a 7.13 sq km area, having total geological resources of 708 million tonnes (mt) of limestone. UltraTech Cement shares were trading at Rs 7,517.40 on the Bombay Stock Exchange (BSE). The company being a part of Aditya Birla Group is the third-largest cement producer outside China and the largest installed capacity in India. The consolidated net profit of the company had increased by 0.3% to Rs 1,313.53 crore and 15.7% growth in its net sales to Rs 12,016.78 crore during the second quarter (Q2) of FY22, compared to Q2 FY21. Image Source