Choice Institutional Equities reiterates Buy on Ultratech Cement, targets Rs 15,210
Choice Institutional Equities reiterated a Buy rating on Ultratech Cement and set a target price of Rs 15,210. The firm also framed the UTCEM INR 18 Bn wires and cables foray as strategically positioned despite its size.
Choice Institutional Equities's report on Ultratech CementUTCEM INR 18 Bn foray into the wires and cables segment may appear relatively modest in the context of the company’s overall balance sheet — representing only ~2% of its current capital employed — but we view the move as strategically and di…