Buy UltraTech Cement, target Rs 3970: Karvy Stock Broking Ltd

Buy UltraTech Cement Ltd. at a price target of Rs 3970.0 and a stop loss at Rs $stopLossL from entry point

| Updated: Jul 20, 2016, 12.20 PM IST

Karvy Stock Broking Ltd has a buy call on UltraTech Cement Ltd. with a target price of Rs 3970. The current market price of UltraTech Cement Ltd. is Rs 3546.95. Time period given by analyst is year, when UltraTech Cement Ltd. price can reach defined target. The brokerage estimates cement volume will grow at 10% CAGR during FY16-18. The brokerage said valuation at 17.7x FY2017 and 13.6x FY2018 EVEBITDA looks attractive.

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