Buy UltraTech Cement target of Rs 5000: Sharekhan
Sharekhan’s research report on UltraTech Cement
Pan-India cement prices have fallen 3.1% q-o-q in Q3FY2020 (till date), although they are up 5.8% y-o-y as against -1.3% to +2.4% price variations seen in Q3 of the past five years. Sales volumes may get hit in Q3FY2020 due to weak government infrastructure spend, state elections, uncertainties arising due to change of state government and construction ban in Delhi-NCR. Higher cement prices and declining costs of key inputs costs to lend support in the wake of weak demand for Q3FY2020.
We reiterate our Buy rating on UltraTech with an unchanged PT of Rs. 5,000, as we view recent correction in stock price owing to demand headwinds as an opportunity to invest, with structural growth triggers staying intact.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India’s leading expert on wealth building, has created a strategy which makes it possible… in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.