Buy UltraTech Cement, target price Rs 6550: Kotak Securities

Kotak Securities has buy call on UltraTech Cement with a target price of Rs 6550. The current market price of UltraTech Cement is Rs 6345.7. Time period given by analyst is Intra Day when UltraTech Cement price can reach defined target. Kotak Securities recommended to keep stoploss at Rs 6250.

UltraTech Cement, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 183355.67 Crore) operating in Cement sector.

UltraTech Cement 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 has 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 has reported net profit after tax of Rs 1709.38 Crore in latest quarter.

Investment Rationale
Cup and Handle chart pattern and breakout from resistance zone is very likely in the coming horizon.

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.