UltraTech Cement shares gained in the morning trade on June 26 after the Aditya Birla-led cement player to acquire a stake in UAE-based RAK Cement (RAKWCT).

On May 27, UltraTech Cement announced that it had made an offer to acquire 18.8 crore shares or a 31.6 percent stake in RAKWCT. However, in a filing with the bourses, the firm announced it amended its offer.

"This offer was revised to 12.5 crore shares of RAKWCT representing 25 per cent of the share capital of RAKWCT," said UltraTech in the filing.

At 9.20 am, shares of the cement player were quoting Rs 11,042.15 on the NSE, up 1.8 percent from the previous close.

The offer was made by UltraTech Cement Middle East Investments Limited, the firm's wholly owned subsidiary which is based in UAE.

UltraTech announced on April 15 that UCMEIL plans to invest in 29.39 percent of the equity shares of RAKWCT, a listed company on the Abu Dhabi stock exchange.

For the quarter ended March, UltraTech Cement posted a 35 percent surge in net profit, beating estimates, on the back of robust demand for the building materials and lower operating costs.

Profit for the Aditya Birla Group company climbed to Rs 2,258.58 crore in the January-March period from Rs 1670.10 crore a year earlier.

Over the past year, UltraTech Cement shares have jumped around 35 percent as compared to a 25 percent rise in the frontline index.