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Motilal Oswal Report
UltraTech Cement Ltd. shares may remain in focus as Motilal Oswal Financial Services has reiterated its 'Buy' rating on the stock with a target price of Rs 13,800, implying an upside potential of about 22% from the current market price of Rs 11,275.
The brokerage believes the company's formal entry into the cables and wires (C&W) segment through its newly launched 'Ultravolt' brand strengthens its long-term growth story and expands its participation across the construction value chain.
The Aditya Birla Group has launched the Ultravolt cables and wires business under UltraTech Cement, backed by an initial investment of Rs 1,800 crore. The company has commissioned a manufacturing facility at Bharuch, Gujarat, with an installed capacity of 1.1 million kilometre and commenced commercial production from September 1, 2026.
The brokerage also highlighted that there could be near-term pressure on the stock price of C&W players due to UltraTech's ambitious target of becoming the No. 2 brand, though the industry's underlying demand outlook remains constructive.
Assuming the current industry size of Rs 1.0 trillion and expected CAGR of 13% over the next five years, Motilal Oswal believes that UltraTech Cement could achieve 5-7% market share by FY31E.
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