UltraTech is forecast to touch Rs. 8,419.5, up 8.73% from its current price of Rs. 7,743.20.
UltraTech reached its highest-ever price of Rs. 7,832.45 in August 2021. Currently, it is trading at Rs. 7,743.20 as of May 10, 2023, nearing an all-time high.
Most analysts believe the UltraTech stock price is poised for long-term growth. While some forecast the stock price to breach the Rs. 10,000 barrier, a more realistic estimate puts it at around Rs. 8,100-8,700, given the lower-than-expected net profit figures and stable pricing environment.
As a leader in cement manufacturing in India, UltraTech Cement has a robust distribution network and a diverse portfolio of products catering to different requirements. The company also has a track record of delivering consistent quality products. It has received several awards and certifications for its commitment to sustainability and environmental practices.
The most recent dividend payout for UltraTech Cements was on August 2, 2022, with a dividend of Rs. 38 per share. Based on historical patterns, it is anticipated that the dividend payout for 2023 will follow a similar timeline.
UltraTech Cement recently reported a strong net profit of Rs. 1,670 crore, representing a notable 13% year-on-year increase. Additionally, the company completed the expansion of its manufacturing facility in Bihar, increasing its capacity from 2.5 mtpa to 4.7 mtpa to meet the growing demand for cement in the East. These positive developments have been reflected in the stock price, which has witnessed a 7.8% gain from February to May 2023.