UltraTech Cement shares fell 5% from day's high on October 19 after the company missed the estimates in the September quarter results.
UltraTech Cement, India's largest cement producer by capacity, reported a smaller-than-expected rise in second-quarter profit on Monday, as higher raw material costs weighed despite strong growth in volumes.
Consolidated net profit rose 21.3% year-on-year to Rs 1,494 crore for the three months ended September 30, below analysts' expectation of Rs 1,705 crore, per data compiled by LSEG.
At 2:18 pm on October 19, UltraTech Cement shares were trading 2.3% lower at Rs 10,664 apiece as compared to day's high of Rs 11,219.
Total expenses rose 17.8% during the quarter, as raw material costs jumped 24%.