−18% from the high · +3.7% from the low
Short build-up into a 26-day expiry: futures OI +3.6% on a −2.3% day, the most call OI sits at 11,500, the most put OI at 11,000, max pain 11,000.
ULTRACEMCO futures closed at ₹10,779.00, +0.6% to spot, with 93% of open interest in the 27 Oct contract, and the 10,700 straddle prices a move of about ±4.8% by expiry.
| Expiry | Close ₹ | Basis ₹ · % | Annualised % | OI lots · on the day | Share of OI % | Contracts traded |
|---|---|---|---|---|---|---|
| 27 Oct26 days | ₹10,779.00 | +69.00+0.6% | +9.0% | 36,000▲ +3.6% · +1,300 lots | 93 | 6,100 |
| 23 Nov53 days | ₹10,801.00 | +91.00+0.8% | +5.8% | 2,700▲ +2.2% · +58 lots | 6.9 | 140 |
| 29 Dec89 days | ₹10,799.00 | +89.00+0.8% | +3.4% | 7.00.0% · +7.0 lots | 0.02 | 7.0 |
6.9% of futures OI sits beyond the 27 Oct contract · 41 of 67 listed contracts traded · 22,000 option contracts changed hands
The 10,700 straddle closed at ₹515.05 (call 297.65 + put 217.40), pricing a move of about ±4.8% by the 27 Oct expiry. In the last 253 windows of 19 sessions, ULTRACEMCO moved more than that 102 times.
After the last 8 bulletins, ULTRACEMCO closed higher five sessions later in 2 of 7.
| Bulletin | Day of the news | 1 session later | 5 sessions later | Futures OI on the day |
|---|---|---|---|---|
| 24 SeptUltraTech Cement expands capacity to 210.1 MTPA | ▲ +0.9%Nifty +0.3% · +0.6 pp | ▼ −0.3%Nifty −1.2% · +0.9 pp | —not reached | ▼ −0.2%short covering |
| 22 SeptUltraTech Cement shares rise 4% on positive brokerage ratings | ▼ −0.9%Nifty −0.4% · −0.5 pp | ▲ +0.5%Nifty +0.1% · +0.4 pp | ▼ −2.4%Nifty −3.0% · +0.5 pp | ▼ −0.7%long unwinding |
| 21 SeptUltraTech Cement shares rise 4% on Buy ratings from HSBC, Jefferies | ▼ −0.9%Nifty −0.4% · −0.5 pp | ▲ +0.5%Nifty +0.1% · +0.4 pp | ▼ −2.4%Nifty −3.0% · +0.5 pp | ▼ −0.7%long unwinding |
| 21 SeptNifty outlook shows mixed signals amid geopolitical tensions | ▲ +0.8%Nifty +0.3% · +0.5 pp | ▼ −0.1%Nifty −0.1% · −0.1 pp | ▲ +0.1%Nifty −2.4% · +2.5 pp | ▲ +0.1%long build-up |
| 14 SeptUltraTech Cement reaches 200 MTPA capacity milestone | ▼ −2.8%Nifty −1.2% · −1.6 pp | ▼ −2.7%Nifty −0.8% · −2.0 pp | 0.0%Nifty −0.3% · +0.3 pp | ▼ −1.7%long unwinding |
| 15 AugPilani Investment sells 1% stake in UltraTech for ₹2,896 crore | ▲ +0.5%Nifty −0.3% · +0.8 pp | ▼ −1.0%Nifty −0.9% · −0.2 pp | ▼ −1.0%Nifty −0.6% · −0.4 pp | ▲ +0.1%long build-up |
| 15 AugUltraTech Cement promoter sells 0.85% stake for ₹2,896 crore | ▲ +0.5%Nifty −0.3% · +0.8 pp | ▼ −1.0%Nifty −0.9% · −0.2 pp | ▼ −1.0%Nifty −0.6% · −0.4 pp | ▲ +0.1%long build-up |
| 28 JulUltraTech Cement plans ₹5,000 crore bond funding | ▲ +0.6%Nifty 0.0% · +0.7 pp | ▲ +1.0%Nifty +1.1% · −0.1 pp | ▲ +1.4%Nifty +2.6% · −1.2 pp | ▲ +5.6%long build-up |
Revenue ₹24,648 cr, +16% on a year earlier; profit ₹2,604 cr, +17% in the Jun 2026 quarter, consolidated.
| Quarter | Revenue ₹ cr | Revenue YoY | Profit ₹ cr | Profit YoY | EPS ₹ | Market on the day |
|---|---|---|---|---|---|---|
| Jun 2026filed 20 Jul | ₹24,648 cr | ▲ +16% | ₹2,604 cr | ▲ +17% | 88.31 | ▲ +1.6%Nifty −0.2% · +1.8 pp |
| Mar 2026filed 27 Apr · audited | ₹25,799 cr | ▲ +12% | ₹3,000 cr | ▲ +21% | 101.35 | ▼ −1.6%Nifty −0.4% · −1.2 pp |
| Dec 2025filed 24 Jan | ₹21,830 cr | ▲ +27% | ₹1,729 cr | ▲ +17% | 58.62 | ▲ +1.8%Nifty +0.5% · +1.3 pp |
| Sept 2025filed 18 Oct | ₹19,607 cr | ▲ +25% | ₹1,238 cr | ▲ +50% | 41.84 | ▼ −0.2%Nifty +0.5% · −0.7 pp |
| Jun 2025filed 21 Jul | ₹21,275 cr | ▲ +18% | ₹2,221 cr | ▲ +31% | 75.61 | ▼ −1.0%Nifty −0.1% · −0.9 pp |
| Mar 2025filed 28 Apr · audited | ₹23,063 cr | ▲ +13% | ₹2,475 cr | ▲ +9.6% | 84.31 | ▼ −2.0%Nifty 0.0% · −2.0 pp |
| Dec 2024filed 23 Jan | ₹17,193 cr | ▲ +2.7% | ₹1,474 cr | ▼ −17% | 50.94 | ▼ −1.2%Nifty −0.5% · −0.7 pp |
| Sept 2024filed 21 Oct | ₹15,635 cr | ▼ −2.4% | ₹825 cr | ▼ −36% | 28.43 | ▼ −0.4%Nifty −1.3% · +0.8 pp |
| Year | Revenue ₹ cr | Revenue YoY | Profit ₹ cr | Profit YoY | EPS ₹ |
|---|---|---|---|---|---|
| FY26to Mar 2026 | ₹88,512 cr | ▲ +20% | ₹8,188 cr | ▲ +27% | 277.42 |
| FY25to Mar 2025 | ₹73,961 cr | ▲ +4.3% | ₹6,469 cr | ▼ −7.6% | 222.50 |
| FY24to Mar 2024 | ₹70,908 cr | — | ₹7,004 cr | — | 242.87 |
ULTRACEMCO trades at 37 times trailing earnings against 34 for its industry, 3.9 times book value, revenue +19% over twelve months, a 4.5% dividend yield, market cap ₹3,20,000 cr.
| Stock | Market cap ₹ | P/E | P/B | Close ₹ |
|---|---|---|---|---|
| ULTRACEMCOUltraTech Cement Limited | 3,20,000 cron 1 Oct | 37consolidated | 3.9 | ₹10,710.00 |
| GRASIMGrasim Industries Limited | 2,00,000 cron 1 Oct | 35consolidated | 1.2 | ₹2,962.00 |
| AMBUJACEMAmbuja Cements Limited | 90,000 cron 1 Oct | 21consolidated | 1.3 | ₹362.25 |
| SHREECEMSHREE CEMENT LIMITED | 79,000 cron 1 Oct | 48consolidated | 3.4 | ₹21,900.00 |
| JKCEMENTJK Cement Limited | 38,000 cron 1 Oct | — | 5.4 | ₹4,952.00 |
| DALBHARATDalmia Bharat Limited | 32,000 cron 1 Oct | — | 1.7 | ₹1,682.10 |
| ACCACC Limited | 22,000 cron 1 Oct | — | 1.1 | ₹1,182.80 |
| RAMCOCEMThe Ramco Cements Limited | 20,000 cron 1 Oct | — | 2.4 | ₹830.85 |
| JSWCEMENTJSW Cement Limited | 15,000 cron 1 Oct | — | 2.3 | ₹111.60 |
| NUVOCONuvoco Vistas Corporation Limited | 12,000 cron 1 Oct | — | 1.1 | ₹322.10 |
| INDIACEMThe India Cements Limited | 9,100 cron 1 Oct | — | 0.90 | ₹295.15 |
| STARCEMENTStar Cement Limited | 7,400 cron 1 Oct | — | 2.3 | ₹178.40 |
| BIRLACORPNBirla Corporation Limited | 6,400 cron 1 Oct | — | 0.87 | ₹828.95 |
| JKLAKSHMIJK Lakshmi Cement Limited | 5,900 cron 1 Oct | — | 1.5 | ₹476.60 |
| PRSMJOHNSNPrism Johnson Limited | 5,200 cron 1 Oct | — | 2.8 | ₹103.60 |
| HEIDELBERGHeidelbergCement India Limited | 3,000 cron 1 Oct | — | 2.2 | ₹130.55 |
| MANGLMCEMMangalam Cement Limited | 2,700 cron 1 Oct | — | 2.8 | ₹984.65 |
| ORIENTCEMOrient Cement Limited | 2,400 cron 1 Oct | — | 1.1 | ₹115.90 |
| KCPKCP Limited | 2,000 cron 1 Oct | — | 0.88 | ₹154.15 |
| SAGCEMSagar Cements Limited | 2,000 cron 1 Oct | — | 1.1 | ₹150.00 |
| SHREDIGCEMShree Digvijay Cement Co.Ltd | 990 cron 1 Oct | — | 2.7 | ₹66.70 |
| VISAKAINDVisaka Industries Limited | 790 cron 25 Sept | — | 0.95 | ₹91.00 |
| NCLINDNCL Industries Limited | 770 cron 1 Oct | — | 0.82 | ₹170.05 |
| DECCANCEDeccan Cements Limited | 770 cron 1 Oct | — | 1.0 | ₹548.95 |
| SAURASHCEMSaurashtra Cement Limited | 590 cron 1 Oct | — | 0.62 | ₹53.35 |
| BIGBLOCBigbloc Construction Limited | 550 cron 1 Oct | — | 3.8 | ₹38.80 |
| SHIVACEMShiva Cement Limited | 390 cron 1 Oct | — | — | ₹13.35 |
| ACLAndhra Cements Limited | 360 cron 1 Oct | — | 4.5 | ₹39.35 |
| APCLAnjani Portland Cement Limited | 280 cron 1 Oct | — | 0.63 | ₹94.75 |
| BVCLBarak Valley Cements Limited | 92 cron 1 Oct | — | 0.73 | ₹41.40 |
| KAKATCEMKakatiya Cement Sugar & Industries Limited | 80 cron 1 Oct | — | 0.44 | ₹103.10 |
| BURNPURBurnpur Cement Limited | — | — | — | — |
Promoters hold 59.3%, foreign portfolio investors 12.4%, mutual funds 16.0% and insurance companies 3.3%, as filed for the quarter to 30 Jun.
| Category | 30 Jun | 31 Mar | 31 Dec | 30 Sept | 30 Jun |
|---|---|---|---|---|---|
| Promoters | 59.330.00 pp | 59.33▲ +0.04 pp | 59.29▲ +0.06 pp | 59.230.00 pp | 59.23 |
| Foreign portfolio investors | 12.36▼ −1.25 pp | 13.61▼ −0.83 pp | 14.44▼ −0.89 pp | 15.33▲ +0.10 pp | 15.23 |
| Mutual funds | 15.98▲ +0.74 pp | 15.24▲ +0.57 pp | 14.67▲ +0.61 pp | 14.06▲ +0.16 pp | 13.90 |
| Insurance companies | 3.34▲ +0.46 pp | 2.88▲ +0.37 pp | 2.51▲ +0.17 pp | 2.34▼ −0.40 pp | 2.74 |
| Banks and financial institutions | 0.37▲ +0.07 pp | 0.30▲ +0.03 pp | 0.27▲ +0.02 pp | 0.25▲ +0.04 pp | 0.21 |
| Individual investors | 5.99▲ +0.04 pp | 5.95▼ −0.08 pp | 6.03▲ +0.05 pp | 5.98▲ +0.20 pp | 5.78 |
| Bodies corporate | 0.90▼ −0.03 pp | 0.93▼ −0.09 pp | 1.02▼ −0.01 pp | 1.03▼ −0.15 pp | 1.18 |
| Government | 0.050.00 pp | 0.050.00 pp | 0.050.00 pp | 0.050.00 pp | 0.05 |
| Other foreign holders | 1.010.00 pp | 1.010.00 pp | 1.01▲ +0.01 pp | 1.00▼ −0.01 pp | 1.01 |
| Employee trusts | 0.170.00 pp | 0.17▼ −0.01 pp | 0.18▼ −0.02 pp | 0.20▲ +0.02 pp | 0.18 |
| Others | 0.52▼ −0.01 pp | 0.53▼ −0.01 pp | 0.540.00 pp | 0.54▲ +0.03 pp | 0.51 |
Nothing upcoming on record; the last was a dividend of ₹240.00 a share, ex-date 30 Jul 2026.
| Ex-date | Action | Amount or ratio | Record date | Source |
|---|---|---|---|---|
| recent | ||||
| 30 Jul 2026 | dividend | ₹240.00 | 30 Jul 2026 | BSE |
| 25 Jul 2025 | dividend | ₹77.50 | 25 Jul 2025 | BSE |
| 30 Jul 2024 | dividend | ₹70.00 | — | BSE |
ULTRACEMCO is −6.0% over 20 sessions against Nifty's −6.2%, 18% below its 52-week high, realised volatility 22% annualised.
| Window | From ₹ | ULTRACEMCO % | Nifty 50 % | Difference pp |
|---|---|---|---|---|
| 250 sessionssince 26 Sept | ₹12,070.33 | ▼ −11% | ▼ −9.1% | −2.2 |
| 120 sessionssince 9 Apr | ₹11,448.42 | ▼ −6.4% | ▼ −5.7% | −0.76 |
| 60 sessionssince 8 Jul | ₹11,352.55 | ▼ −5.7% | ▼ −6.1% | +0.45 |
| 20 sessionssince 2 Sept | ₹11,392.41 | ▼ −6.0% | ▼ −6.2% | +0.25 |
| 5 sessionssince 24 Sept | ₹11,056.05 | ▼ −3.1% | ▼ −2.8% | −0.35 |
| 1 sessionsince 30 Sept | ₹10,956.52 | ▼ −2.2% | ▼ −0.88% | −1.4 |
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