Street View: India's UltraTech seen outpacing peers on strong volumes, pricing
BUZZ-Street View: India's UltraTech seen outpacing peers on strong volumes, pricing July 21 (Reuters) - ** UltraTech Cement ULTC.NS, India's top cement maker, posts higher Q1 profit and unveiled plans to increase capacity addition in FY28
** Shares up 1.3% at 12,058 rupees
VOLUME GROWTH, PRICING STRENGTH DRIVE BEAT
** Investec ("Buy," PT: 15,000 rupees) says Q1 EBITDA beat was driven by stronger volume growth; management targets capacity beyond 240 mtpa and double-digit growth, prompting higher FY27/FY28 EBITDA estimates
** JP Morgan ("Overweight," PT: 13,300 rupees) says Q1 beat was driven by higher-than-expected volumes; sees ULTC better positioned than peers due to scale and ability to balance volumes and margins despite a challenging Q2 cost environment
** Citi ("Buy," PT: 14,750 rupees) continues to like ULTC's growth and cost-management strategy and expects limited impact from rising costs
** Jefferies ("Buy," PT: 14,065 rupees) says strong execution drove a slight EBITDA beat, retains ULTC as its top sector pick and expects volume growth to outpace the industry in FY27
(Reporting by Kashish Tandon in Bengaluru)
((kashish.tandon@thomsonreuters.com; 8800437922))
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