UltraTech Cement shares surged 2.4% to Rs 10,200 following robust Q4 results. Consolidated net profit grew 36% YoY to Rs 2,258 crore, exceeding estimates. Revenue rose 9% YoY to Rs 20,419 crore. A dividend of Rs 70 per share was recommended. EBITDA increased 33% YoY to Rs 4,250 crore.
Ultratech Cement s stock fell over 1% to Rs 9,906 despite highest-ever net profit in Q4. BofA recommends buying at Rs 10,000 target, Nuvama suggests hold at Rs 9,121 target, and Sharekhan suggests buys at Rs 11,300 target. Q4 profit of Rs 1,777 crore is 68% higher YoY, while revenue rose 8% YoY to Rs 16,740 crore.
RIL has recently experienced a notable upward surge. However, a recent breakdown, coupled with substantial trading volumes, underscores the presence of robust resistance levels at higher prices.