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Last Updated : Apr 25, 2019 05:43 PM IST | Source: Moneycontrol.com

Buy UltraTech Cement; target of Rs 5000: Sharekhan

Sharekhan is bullish on UltraTech Cement has recommended buy rating on the stock with a target price of Rs 5000 in its research report dated dated April 24, 2019.

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Sharekhan's research report on UltraTech Cement


UltraTech, being the market leader, is expected to reap benefits of the multi-year industry upcycle. UltraTech reported strong standalone net earnings growth, which was aided by continued healthy volume growth and cost efficiencies. UltraTech shifts its focus to deleveraging while reaping benefits of increasing capacities and profitability of its acquired assets. The industry may witness transient issue of muted demand in H1FY2020 owing to ongoing general elections. Nevertheless, demand is expected to significantly pick up in H2FY2020.


Outlook


We maintain our Buy rating on UltraTech by revising our PT to Rs. 5,000, assigning higher valuation multiple.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.



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First Published on Apr 25, 2019 05:43 pm
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