Profitability in line with estimate; outlook positive

Company
20 Jan 2024
5 Min read 
  • UltraTech Cement's 3QFY24 operating performance was in line with estimates.
  •  Profitability is in line with expectations and the outlook is positive.
  •  Variable costs are expected to decline further in the first half of CY24.
  •  The company has robust expansion plans without leveraging the balance sheet.
  •  The stock is rated as a "Buy" with a target price of INR12,000.
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