Nirmal Bang

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

A Relationship Beyond Broking

External broker reports(aggregated public sources), Nirmal Bang

External broker reports(aggregated public sources)

Equity Bottom-Up

<div><div><div><div><ul><li>4QFY22 performance: UTCEM reported good set of numbers for 4QFY22, with EBITDA at Rs30.7bn coming in 13.6% ahead of our estimate.</li></ul><div><div><div><div><ul><li>Capex update: The management is continuing with its capex plan of 19.5mn mt and the same is expected to be commissioned on time by FY23-end with a marginal delay of up to 3-4 months.</li></ul><div><div><div><div><ul><li>Holcim deal unlikely to impact Ultratech: The management indicated that if Holcim is exiting India and another aggressive domestic player comes in its place, then the competitive scenario is not likely to deteriorate and Ultratech will continue to pursue its growth plans as envisaged.</li></ul></div></div></div></div></div></div></div></div></div></div></div></div><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>

4QFY22 performance: UTCEM reported good set of numbers for 4QFY22, with EBITDA at Rs30.7bn coming in 13.6% ahead of our estimate.Capex update: The management is continuing with its capex plan of 19.5mn mt and the same is expected to be commissioned on time by FY23-end with a marginal delay of up to 3-4 months.Holcim deal unlikely to impact Ultratech: The management indicated that if Holcim is exiting India and another aggressive domestic player comes in its place, then the competitive scenario is not likely to deteriorate and Ultratech will continue to pursue its growth plans as envisaged.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.

UltraTech Cement Ltd - Controlled Costs and Rising Prices to Protect Margins

Ultratech Cement

UltraTech Cement Ltd - Controlled Costs and Rising Prices to Protect Margins