Ultratech Cement up on price hike

Ultratech Cement on Wednesday created its all-time high at Rs 773 on additional profit hopes because of the recent price rise. According to market sources, in the last one month price per bag has been at a hefty Rs27. Another bout of price escalation of around Rs 10 is understood to be on the cards by early May.  "The current price level after the recent rise is likely to fetch an incremental profit of Rs 800 crore for the whole of 2006-07. Any further rise down the year would be an add-on," felt an industry analyst.