Buy UltraTech Cement; target of Rs 11,900: SharekhanMoneycontrol • about 22 hours ago
Sharekhan is bullish on UltraTech Cement has recommended buy rating on the stock with a target price of Rs 11,900 in its research report dated April 29, 2024.
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ICICI Securities recommended hold rating on UltraTech Cement with a target price of Rs 10,411 in its research report dated April 30, 2024.
Domestic grey cement sales grew by 11% YoY and 31% sequentially to 33.22 million tonnes, while smaller segments like white cement and ready mix also saw growth; though cement exports dipped slightly.
The company expects to add around 15-17 million tons of capacity in the new fiscal year 2024-25
Earlier this month, the Aditya Birla group-owned company said that it will invest Rs 32,400 crore towards its capital expenditure over the next three years
UltraTech's domestic sales grew 11%, with capacity utilisation of 98% in the fourth quarter of FY24
UltraTech's e Board of Directors have recommended a dividend of 700 percent at the rate of Rs 70/- per equity share of face value of Rs 10 per share, aggregating Rs. 2,020.84 crore
UltraTech Q4: The cement manufacturer's board has recommended a dividend of Rs 70 a share for FY24
According to the average estimate of 12 brokerages, net profit is expected to reach Rs 1,976.58 crore, marking a 23 percent increase YoY
Ultratech Cement Share Price | The company's board has approved the purchase of a grinding unit having installed capacity of 1.1 mtpa in addition to a captive railway siding, at Parli, Maharashtra.