Ultratech Cement initiated with "underweight"

Ultratech Cement initiated with "underweight"
05 October 2007


Analyst Satish Kumar of Lehman Brothers initiates coverage of Ultratech Cement with an "underweight" rating. The target price is set to INR878.

In a research note published this morning, the analyst mentions that the company’s profitability is expected to decline, with the Indian cement industry headed for a situation of overcapacity in FY09 and FY10. Ultratech Cement’s volume expansion and cost control initiatives appear to be too late, the analyst says.




Published under Cement News