Sharekhan has given Buy recommendation for UltraTech Cement with a target price of Rs. 8000 in its research report issued on Mar 10, 2021
Sharekhan’s research report on UltraTech Cement
Construction of houses under PMAY show strong growth for FY2021 till date. Road project awards and construction maintain the growth momentum. Property registrations in Maharashtra are robust for March 2021 till date. Pan-India cement prices rose sharply by 3.8% m-o-m/6.6% y-o-y in February-end till date. East saw a 7.4% m-o-m hike, while other regions saw an uptick of 2.3%-3.6%. The company’s 19.5 mtpa expansion plan at a cost of Rs. 6,527 crore (without affecting de-leveraging plan) to ensure industry outperformance over the next four to five years.