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Buy UltraTech Cement, target price Rs 6880: Kotak Securities

Kotak Securities has buy call on with a target price of Rs 6880. The current market price of UltraTech Cement Ltd. is Rs 6679.9. Time period given by analyst is Intra Day when UltraTech Cement Ltd. price can reach defined target.

UltraTech Cement Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 192625.63 Crore) operating in Cement sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 14465.94 Crore, up 15.52 % from last quarter Total Income of Rs 12522.03 Crore and up 32.19 % from last year same quarter Total Income of Rs 10943.55 Crore. Company reported net profit after tax of Rs 1771.86 Crore in latest quarter.


Investment Rationale
A breakout from the Ascending Triangle chart pattern indicates a fresh leg of upside from the current levels.

Promoter/FII Holdings
Promoters held 60 per cent stake in the company as of March 31, 2021, while FIIs held 17.4 per cent, DIIs 13.8 per cent and public and others 8.9 per cent.

(Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)

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