Edelweiss maintains buy on Ultratech Cement
Ultratech
Cement's realisation surged to a 5-year high in Q1 despite volume
disappointment, says Edelweiss.While management has guided for a soft
Q2FY18 factoring seasonal weakness in volumes & prices and
transition cost related to consummation of JP Associates' (JPA) 21mtpa
cement assets, it is confident of recovery thereafter. The company will
be prime beneficiary of our positive sector outlook, maintain 'BUY' with
revised TP of INR4,862 (INR4,422 earlier), it added.