Ultratech Cement is going to post a robust income growth in Quarter 3. The demand for cement has increased as the economy has opened and lots of Government and Private Infrastructure is coming up and definitely for that cement is required. In cement Ultratech is biggest player.
So, there is a lot of demand is coming up. Pan-India cement prices rose sharply by 3.8% m-o-m/6.6% y-o-y in February-end till date. East saw a 7.4% m-o-m hike, while other regions saw an uptick of 2.3%-3.6%. The company’s 19.5 mtpa expansion plan at a cost of Rs. 6,527 crore (without affecting de-leveraging plan) to ensure industry outperformance over the next four to five years.
So, here the Target Price of Ultratech Cement is Rs 8000