BUZZ — HSBC says India's UltraTech can grow market share without sacrificing margins

* Shares of India's UltraTech Cement up 0.54% at 11,073 rupees * HSBC ("buy", PT: 14,200 rupees) dismisses concerns that co is prioritising market share over profitability, citing above-industry volume growth and strong margins * Brokerage expects co's volume growth and EBITDA per tonne to remain above industry levels, helped by its brand, distribution network and scale * Says September cement price hikes of about 4%-5% should offset higher variable costs, including a recent spike in petroleum coke prices * HSBC expects co to achieve its March 2028 EBITDA-per-tonne target of 1,400 rupees as higher costs are passed through and operating efficiencies improve * ULTC rated "buy" on average by 37 analysts, median PT at 13,980 rupees--LSEG compiled data * YTD stock down 6.5% (Reporting by Surbhi Misra in Bengaluru) ((Surbhi.Misra@thomsonreuters.com | X: |;)