UltraTech Cement share price: Sharekhan maintains Buy rating with a revised price target of Rs 6700
Sharekhan have increased their estimates for FY2021-FY2023E, factoring higher volume offtake considering strong pick up in cement demand to sustain going ahead. Sharekhan continues to maintain their Buy rating on UltraTech Cement stock with a revised price target of Rs 6700. UltraTech Cement continued its outperformance during Q3 FY21. Growth was led by higher than expected volume growth and operational profitability.
UltraTech Cement standalone revenue rose by 18.6% yoy to Rs 11831 cr, led by 14.1% yoy rise in volume, while blended realisations grew by 3.9% yoy (down 0.6% qoq): Reuters