Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
Live Now : Nifty Banker 3.0 | India's First Retail Index Traders Online Conference.
Budget 2023
Budget 2023

Buy UltraTech Cement, target of Rs 8100: Sharekhan

Sharekhan is bullish on UltraTech Cement has recommended buy rating on the stock with a target price of Rs 8100 in its research report dated January 23, 2023.

January 24, 2023 / 10:32 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Sharekhan's research report on UltraTech Cement

Q3FY2023 standalone revenues were better than estimates, while operational and net profitability came in a tad lower than estimate on account of lower-than-expected blended realisations. It would revert to four digit EBITDA/tonne in Q4 expecting strong demand, lower power & fuel costs and stable pricing environment. It commissioned 6.8mtpa cement capacities during 9MFY2023 while it would be commissioning ~10 mtpa in next few months. Petcoke are prices expected to remain rangebound, while cement prices to be firm with upward bias.

Outlook

We maintain Buy on UltraTech with a revised PT of Rs. 8,100, factoring downwardly revised estimates and long-term growth potential and reasonable valuation.