UltraTech Cement - Steep Correction Has Made Valuations Reasonable: Nirmal Bang

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Nirmal Bang Report.UltraTech Cement Ltd.'s stock has corrected by ~33% from its 52-week high on concerns about increased competition in the cement industry post the entry of Adani group, prolonged and sticky energy cost inflation and weak pricing environment. We had earlier changed our view on the cement sector from ‘positive’ to ‘neutral’ on similar concerns. The steep correction in UltraTech Cement has made valuation favorable and it is currently trading below its 10-year and five-year average enterprise value/Ebitda as well as EV/million tonne multiples. While the valuation multiples seem reasonable post the substantial price correction, we believe that further time correction is possible given the lack of positive news flow in the near term..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

UltraTech Cement - Steep Correction Has Made Valuations Reasonable: Nirmal Bang

UltraTech Cement - Steep Correction Has Made Valuations Reasonable: Nirmal Bang

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