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.
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.
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
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