India's UltraTech climbs; Street upbeat on co's wires and cables foray

Ultratech Cement

03/03/2025 05:14

** UltraTech ULTC.NS rises 2.3% to 10,335 rupees; set to snap eight straight sessions of declines

** Stock among top gainers on Nifty 50 index .NSEI

** Co views cables and wires (W&C) foray as one-off move to increase customer wallet share

** BOB Capital Markets analysts say W&C entry extends ULTC's building materials portfolio, offering one-stop solution

** Retains 17x EV/EBITDA valuation

** Prabhudas Lilladher analysts say co can become significant player in W&C industry

** Stock rated "buy" on avg; median PT is 12,699 rupees - LSEG

** ULTC down 11% YTD

 (Reporting by Ashna Teresa Britto in Bengaluru)

 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))