India's Ultratech Cement gains after Goldman Sachs terms it 'top pick' in sector

Ultratech Cement

16/06/2025 10:05

** Shares of Ultratech Cement ULTC.NS rise 2.4% to 11,496 rupees

** Cement maker among top five pct gainers on benchmark Nifty 50 index .NSEI, which is up about 1%

** "Healthy price hikes in April and May, despite weaker than expected volumes, have driven higher profitability per tonne in cement industry," says Goldman Sachs

** Reiterates "buy" on ULTC, calls it the "top pick" in the sector; sets PT at 12,650 rupees

** Average rating of 38 analysts tracking ULTC is "buy"; median PT at 13,200 rupees - data compiled by LSEG

** YTD, ULTC down 1.8%, Nifty 50 4.5% rise

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))