UltraTech Cement share price may rise another 16%

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UltraTech Cement share price

UltraTech Cement share price may rise

The country’s largest cement producer, UltraTech Cement Ltd., saw its share price rise 29% last year. Despite being close to its 52-week highs, latest experts believe there is still room for growth for the stock. All cement manufacturers in the country, including UltraTech, are benefiting from the strong demand for cement in the market. In addition to the company’s continued capacity expansions, UltraTech has maintained its market share gains. Meanwhile, UltraTech sees improved earnings potential as a result of falling commodity prices. Several experts predict further growth of the stock based on the positive outlook for the future.

UltraTech Cement share price rise

Analysts at Motilal Oswal Financial Services predict that UltraTech would rise by over 15% from its current levels of about ₹8,736 to ₹10,1000. According to MOFSL, UltraTech is well positioned to meet the growing demand for cement. With an ambitious target of increasing its domestic gray cement capacity to 182 Mtpa by FY27, UltraTech Cement is setting a new standard. Given the higher base, the company’s capacity CAGR (compounded annual growth rate) of 9.5% during FY23-27 is considered encouraging. According to MOFSL experts, UltraTech Cement continues to lead the industry with these expansions. Government infrastructure spending has been driving continued strong demand for cement, helped by an increase in real estate activity. Robust demand for cement is itself a lever promoting growth.

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Post-COVID-19, cement demand remained strong, with a compound annual growth rate (CAGR) of 9% for FY21-2023. The improvement in demand, according to MOFSL analysts, was driven by strong demand from the real estate and urban housing sector, low-cost housing programs and increased government spending on infrastructure development. According to MOFSL, demand momentum would remain strong and they project a CAGR of 7-8% from FY23 to FY28, reaching 575 million tonnes (or 1.5 times the 390 million tonnes of demand in fiscal year 23). The company is also focusing on improving and prioritizing its ESG goals.

Categories: Biography
Source: vtt.edu.vn

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