Moneycontrol PRO
Upcoming Event:Attend Quants League - 5 Days Live Algorithmic Options Trading Virtual Conference @ just Rs. 600/- brought to you by Moneycontrol Pro. Register Now!

Buy UltraTech Cement: target of Rs 8800: Sharekhan

Sharekhan is bullish on UltraTech Cement has recommended buy rating on the stock with a target price of Rs 8800 in its research report dated July 22, 2021.

July 26, 2021 / 09:21 PM IST
  • bselive
  • nselive
Todays L/H

Sharekhan's research report on UltraTech Cement

In Q1FY2022, UltraTech continued to surprise positively on the operating front aided by healthy volume growth seen amid the COVID-19 impact in Q1FY2022, rise in cement prices and contained operating costs. Net debt continue to tread lower in Q1. Further, there was a material loan payoff in July 2021. Target to turn net cash in FY2024 and an addition of 19.5MTPA by FY2023 remain intact. Underlying demand from rural, urban real estate and large infrastructure projects is expected to remain robust. The management fairly confident of improving operational profitability further.


We maintain a Buy rating on UltraTech Cement (UltraTech) with a revised PT of Rs. 8,800, factoring upwardly revised estimates led by sustained healthy demand environment over FY2022-FY2024.

For all recommendations report, click here

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

Broker Research
first published: Jul 26, 2021 09:21 pm

stay updated

Get Daily News on your Browser
ISO 27001 - BSI Assurance Mark