UltraTech Cement :
Sharekhan has upgraded its rating on UltraTech Cement from hold to buy with a revised target price of Rs 850 in its July 21, 2009 research report.
"For Q1FY2010 UltraTech Cement (UltraTech) has reported a net profit of Rs 417.8 crore, as against our estimate of Rs 333.6 crore. The net profit for the quarter improved by 57.6% year on year (yoy). We are also upgrading our recommendation on the stock from 'Hold' to 'Buy' with a revised target price of Rs 850 (EV/tonne of $87 on expanded capacities, which is at 13% discount to replacement cost of $100)," says Sharekhan's research report.
Source: Sharekhan
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