UltraTech Cement announced that the Competition Commission of India (CCI) has by its letter dated August 21, 2018 informed the company that it has approved the Scheme of Arrangement amongst Century Textiles and Industries (Century) and the company and their shareholders and creditors for acquisition of the cement business of Century.

The stock had outperformed the market over the past one month till Aug. 21, 2018, rising 10.72% compared with the Sensex's 4.90% rise. It outperformed the market in past one quarter, gaining 11.44% as against 10.60% rise in the Sensex.

Shares of the company gained Rs 37.3, or 0.87%, to trade at Rs 4,338.00. The total volume of shares traded was 20,492 at the BSE (4.01 p.m., Tuesday).