Buy UltraTech Cement, target price Rs 7670: Kotak Securities

Kotak Securities has buy call on UltraTech Cement with a target price of Rs 7670. The current market price of UltraTech Cement is Rs 7422.1.

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 214954.68 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 30-09-2021, the company reported a Consolidated Total Income of Rs 12156.83 Crore, up 1.01 % from last quarter Total Income of Rs 12034.71 Crore and up 15.90 % from last year same quarter Total Income of Rs 10489.10 Crore. Company reported net profit after tax of Rs 1310.26 Crore in latest quarter.

Investment Rationale
Higher High and Higher Low series pattern with rising volume which suggest an uptrend.


Promoter/FII Holdings
Promoters held 59.96 per cent stake in the company as of 30-Sep-2021, while FIIs owned 16.48 per cent, DIIs 14.51 per cent.