Buy UltraTech Cement, target price Rs 6350: Yes Securities

Yes Securities has buy call on UltraTech Cement with a target price of Rs 6350. The current market price of UltraTech Cement is Rs 6020.9. 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 173812.41 Crore) operating in Cement sector.

UltraTech Cement Ltd. key Products/Revenue Segments include Portland/Possolana Cement, Other Operating Revenue, Scrap, Sale of services, Lease Rentals for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 13055.43 Crore, up 7.39 % from last quarter Total Income of Rs 12156.83 Crore and up 4.26 % from last year same quarter Total Income of Rs 12522.03 Crore. Company reported net profit after tax of Rs 1709.38 Crore in latest quarter.

Investment Rationale
Stock is on the verge of a breakout from a consolidation phase and turned upwards suggesting a possible short covering rally in the coming sessions. Technical Indicators are also favouring the same.

Promoter/FII Holdings
Promoters held 59.96 per cent stake in the company as of 31-Dec-2021, while FIIs owned 15.74 per cent, DIIs 15.15 per cent.