Buy UltraTech Cement, target price Rs 9200: Yes Securities
UltraTech Cement with a target price of Rs 9200. The current market price of UltraTech Cement is Rs 8682.1.
Yes Securities recommended to keep stop loss at Rs 8520.
UltraTech Cement, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 250506.13 Crore) operating in Cement sector.
UltraTech Cement key Products/Revenue Segments include Portland/Possolana Cement, Other Operating Revenue, Scrap, Sale of services, Lease Rentals for the year ending 31-Mar-2022.
Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 17910.83 Crore, down -4.65 % from last quarter Total Income of Rs 18783.89 Crore and up 17.27 % from last year same quarter Total Income of Rs 15272.70 Crore. Company has reported net profit after tax of Rs 1686.52 Crore in latest quarter.
Investment Rationale
Customised cement index attempting to surpass ’22peak with Ultratech confirming bullish turtle break.
Promoter/FII Holdings Promoters held 59.96 per cent stake in the company as of 30-Jun-2023, while FIIs owned 15.81 per cent, DIIs 15.82 per cent.
