UltraTech Cement Ltd approves grant of 6280 Employees Stock Options

The Nomination, Remuneration and Compensation Committee of the Board of Directors of UltraTech Cement Ltd has approved grant of 6,280 stock options at an exercise price of Rs. 3,122/- per stock option, exercisable Into the same number of equity shares of Rs. 10 each and 2,218 restricted stock units, at an exercise price of Rs. 10/- each exercisable into the same number of equity shares of Rs. 10/- each to eligible employees of the Company under the "Employees Stock Option Scheme - 2013" (ESOS - 2013).

Subject to the Securities and Exchange Board of India (Employees Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 and the terms of the ESOS - 2013, the stock options will vest in 4 equal installments after one year of the grant and restricted stock units will vest after three years from the date of grant which shall be exercisable within a period of 5 years from the date of vesting.

Shares of ULTRATECH CEMENT LTD. was last trading in BSE at Rs.3101 as compared to the previous close of Rs. 3084.95. The total number of shares traded during the day was 16281 in over 6383 trades.

The stock hit an intraday high of Rs. 3186.1 and intraday low of 3065. The net turnover during the day was Rs. 50899355.

Source : Equity Bulls

Keywords