Buy ULTRATECH CEMENT, target price Rs 6300: wavesadvisory

waveasdvisory has buy call on Ultratech NSE 1.62 % with a target price of Rs 6300. The current market price of Ultratech is Rs 5633

Confirmation to Buy Ultratech @ 5035 to 5200 odd levels

Invalidation level @ 4870

Positional Target: 6000, 6300

Expected return - 21.5% in next 1 to 12 weeks

UltraTech Cement Limited is an Indian cement company based in Mumbai. It is a subsidiary of the Indian multinational conglomerate, Aditya Birla Group.[4] Ultratech is the largest manufacturer of grey cement, ready mix concrete (RMC) and white cement in India with an installed capacity of 116.75 million tones per annum, and is the only company in the world to have a capacity of over 100 million tones in a single country, outside of China.

UltraTech Cement has 23 integrated plants, 1 clinkerisation plant, 26 grinding units and 7 bulk terminals. Its operations span across India, UAE, Bahrain and Sri Lanka.

In the white cement segment, UltraTech goes to market under the brand name of Birla White. It has a white cement plant with a capacity of 0.68 MTPA and 2 WallCare putty plants with a combined capacity of 0.85 MTPA.

With 100+ Ready Mix Concrete (RMC) plants in 39 cities, UltraTech is the largest manufacturer of concrete in India.

“The first rule of investment is: Don’t Lose. And the second rule of investment is: Don’t forget the first rule.” Warren Buffet

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