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The country’s largest producer of cement aims to meet 85% of its total energy requirements from green energy by the end of this decade, up from 22% currently. Its interim target is to meet three-fifth of its total energy requirements from green energy by 2025-26 (Apr-Mar).
The company said that it aims to meet its entire electricity requirement through renewable sources by 2050, as part of its RE100 commitment. Additionally, as a member of EP100, the company seeks to double its energy productivity.
Indian shares ended little changed on Wednesday after data showed retail inflation in the country neared RBI's upper tolerance band in November, driven mainly by higher food prices.
According to Axis Securities, Ultratech is set to post CAGR of 12% in revenue, 21% in EBITDA, and 30% in adjusted profit after tax (APAT) over the period from FY23 to FY26
Among the Sensex firms, IndusInd Bank, Maruti, Titan, Reliance Industries, NTPC, Mahindra & Mahindra, Larsen & Toubro, Kotak Mahindra Bank and HDFC Bank were the major laggards. UltraTech Cement, JSW Steel, Axis Bank, Tata Consultancy Services, Wipro and ITC were the major gainers.