External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>We maintain an ADD rating on UltraTech Cement (UTCEM) with an unchanged target price of INR 11,260/share (16.5x Sep-26E consolidated EBITDA)</li><li>We interacted with the management recently on business and industry outlook</li><li>Overall demand remains sluggish in Q2FY25 and pricing is weak</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We maintain an ADD rating on UltraTech Cement (UTCEM) with an unchanged target price of INR 11,260/share (16.5x Sep-26E consolidated EBITDA)We interacted with the management recently on business and industry outlookOverall demand remains sluggish in Q2FY25 and pricing is weakContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

UltraTech Cement - Long-Term Outlook Intact

Ultratech Cement

UltraTech Cement - Long-Term Outlook Intact