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Buy UltraTech Cement: target of Rs 8600: Sharekhan

Sharekhan is bullish on UltraTech Cement has recommended buy rating on the stock with a target price of Rs 8600 in its research report dated April 29, 2022.

April 30, 2022 / 10:13 PM IST
 
 
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Sharekhan's research report on UltraTech Cement


In Q4FY2022, UltraTech reported broadly in-line performance as marginally lower-than-expected volumes were offset by higher realisation. Consolidated net debt reduced sequentially by ~Rs. 2,400 crore. Management expects healthy demand environment to sustain, led by infrastructure, rural housing, and urban housing. Price hikes undertaken during April cover increased key input costs. White cement expansion plans have been put to rest with RAKWCT’s acquisition. Balance grey cement capacity expansion of 16.3 mtpa remains on track, while another round of expansion is to be announced by FY2023-end.


Outlook


We maintain Buy on UltraTech with a revised PT of Rs. 8,600, factoring downward revision in estimates.


For all recommendations report, click here

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first published: Apr 30, 2022 10:13 pm
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