UltraTech emerges as preferred bidder for Ravur Limestone Slock bid

18 Dec 2021 CW Team

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.

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