Stock To Buy: Top Cement Maker Set To Recommend Dividend, TP Rs 12,000: Motilal Oswal

Large cap cement sector company Ultratech Cement Ltd informed via its regulatory filing dated March 1, 2024 about its upcoming meeting of Board of Directors to recommend dividend and approve the standalone and consolidated audited financial results for the year ending March 31, 2024. Last trading price of Ultratech Cement Ltd shares on BSE is Rs 10,096.85 apiece with intraday fall of 0.35%. Meanwhile, brokerage firm Motilal Oswal has recommended buy call to Ultratech Cement stock with target price of Rs 12,000. If you buy Ultratech Cement shares at current market price of Rs 10,096.85 apiece, you can fetch likely return of 18.85%. Ultratech Cement shares offered shareholders return of 12% in last 3-months and zoomed 58% in last 2-years. Check details below:

Ultratech Cement To Consider Financial Results, Dividend: As per the regulatory filing of the company dated March 1, 2024, "we write to inform that a meeting of the Board of Directors of the Company will be held on Monday, 29th April, 2024, inter alia, to:

(i) consider and approve the Standalone and Consolidated Audited Financial Results of the Company for the year ending 31st March, 2024;

(ii) recommend dividend, if any, on the equity shares of the Company for the year ending (ii) recommend dividend, if any, on the equity shares of the Company for the year ending."

Ultratech Cement Shares Performance & Return: The 52-week high price of Ultratech Cement shares on BSE is Rs 10,522.65 apiece and 52-week low price is Rs 6991.35 apiece, respectively. The company has a market capitalisation of Rs 2,91,483.61 crore. Ultratech Cement shares declined 3.48% year-to-date (YTD), gained 22% in last 6-months, zoomed 39% in last 1-year, and offered return of 58% in last 2-years. Ultratech Cement stock surged 160% in last 5-years.

Ultratech Cement Financials: The cement company for the quarter ended declared its consolidated profit at Rs 1777 crore, up 68% year-on-year (YoY) as against RRs 1058 crore in the corresponding quarter of last year. It was turned out to be the highest every quarterly profit for Ultratech Cement. Meanwhile, consolidated net sales spiked 8% YoY to Rs 16,487 crore for the December 2023 quarter as against Rs 15,299 crore in the similar quarter of last year. The company's domestic grey cement sales volume surged 5% YoY and 1% QoQ, respectively. The cement maker's operating Ebitda per mt declared at Rs 1.208 for India operations, up 34% YoY and 27% sequentially.

About: UltraTech is the largest manufacturer of grey cement and ready mix concrete (RMC) and one of the largest manufacturers of white cement in India. UltraTech Building Products business is an innovation hub that offers an array of scientifically engineered products to cater to new-age constructions.

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The stocks have been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.