UltraTech Cement shares rise 2% as Macquarie maintains ‘Outperform’ with target price of Rs 11,868

UltraTech Cement Ltd’s stock climbed by nearly 2% today, trading at ₹10,835, following Macquarie’s positive outlook for the cement sector. The brokerage emphasized expectations of a demand recovery and price improvements in the second half of CY24, which could significantly enhance margins across the industry.

Key Highlights from Macquarie’s Analysis:

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  • Demand & Pricing Recovery: Anticipated rebound in demand and potential price hikes are expected to strengthen margins in H2CY24.
  • Focus on Cost Optimization: Industry-wide cost efficiency and capacity consolidation will support medium-term earnings growth.
  • Capacity Utilization Trends: Steady utilization levels align with the expected demand recovery.

Stock Rating: UltraTech Cement: Outperform; Target Price ₹11,868. UltraTech remains Macquarie’s top pick in the sector.

Ultratech Cement Share Price history

Day Open Close Change %
Mon, Jan 20 2025
₹10,587.40
₹10,624.45
+0.42%
Fri, Jan 17 2025
₹10,636.20
₹10,580.00
-0.53%
Thu, Jan 16 2025
₹10,590.00
₹10,636.20
+1.09%
Wed, Jan 15 2025
₹10,540.00
₹10,521.65
+0.36%
Tue, Jan 14 2025
₹10,570.00
₹10,483.75
-1.24%
Mon, Jan 13 2025
₹10,700.00
₹10,615.15
-2.30%
Fri, Jan 10 2025
₹11,203.25
₹10,865.20
-3.50%
Thu, Jan 9 2025
₹11,403.55
₹11,259.80
-1.26%

 

Macquarie’s analysis highlights UltraTech Cement’s leadership and strong execution capabilities, which make it well-positioned to capitalize on sectoral recovery. Investors are advised to monitor pricing and demand trends as key growth drivers.

Disclaimer: This content is for informational purposes only and does not constitute financial advice. Please consult a financial advisor before making investment decisions.