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UltraTech Cement acquires grinding unit from India Cements; announces expansion

UltraTech Cement acquires grinding unit from India Cements; announces expansion
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UltraTech Cement acquires grinding unit from India Cements; announces expansion, ET RealEstate

UltraTech Cement: In a stock exchange filing, UltraTech said its board has approved acquisition "of a grinding unit having installed capacity of 1.1 million tonnes per annum in addition to a captive railway siding at Parli, Maharashtra from The India Cements Limited. for a consideration of Rs 315 crores".

UltraTech Cement - 2nd covid wave a blip; long-term thesis intact - ICICI Securities

UltraTech Cement - 2nd covid wave a blip; long-term thesis intact - ICICI Securities
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UltraTech Q3 FY21 - YES Securities

UltraTech Q3 FY21 - YES Securities Posted On: (Rating: BUY, TP: Rs 6,373, Upside: 15%) Volume/EBITDA growth for Q3FY21 stood at 14% yoy/56% yoy - while it was 7%/18.5% ahead of our estimates. Ramp up in Century and UltraTech Nathdwara assets alongwith lower energy costs translated into beat vs our estimates. Post exceptional operating performance during Q3FY21, we upgrade our EBITDA estimates by 12.1%/6.5%/6.8% for FY21E/FY22E/FY23E respectively. We factor in volume/EBITDA CAGR of 10.3%/3.7% over FY21E-FY23E. Upgrade assigned valuations from 14x to 16x EV/EBITDA on FY23E and arrive at a target price of Rs 6,373/share with potential upside of 15% (previous TP of Rs 5,175). We upgrade UltraTech from ADD to BUY.

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