Shares of UltraTech Cement Ltd were trading in the red and 1.5% lower on 5 April despite the company announcing commissioning a 100-megawatt (MW) solar energy project.

In its regulatory filing, the company said, “The company announced the completion of a 100-MW solar energy project under the Group Captive scheme in Rajasthan.”

The power generated from this project will be available to the company’s units in Rajasthan, Himachal Pradesh, Tamil Nadu, Gujarat, Odisha, and others.

This is the company’s first project to source power for its captive consumption from the inter-state transmission network.

On 3 April, the company received approval from the National Company Law Tribunal (NCLT), Kolkata bench, for the proposed scheme of amalgamation of UltraTech Nathdwara Cement and its wholly owned subsidiaries with the company.

Earlier, on 2 April, the company announced commissioning two new greenfield capacities of around 5.4 million tonnes per annum in Tamil Nadu and Chhattisgarh, taking the total cement capacity to 151.6 million tonnes per annum.

Furthermore, the company announced that it is nearing the process of acquiring Kesoram Cement, which will further boost the company’s grey cement capacity to 198.2 million tonnes per annum.

At 1:02 pm, the shares of UltraTech Cement were trading 1.26% lower at Rs 9,878.90 on NSE.