Buy UltraTech Cement, target price Rs 5690: Motilal Oswal

Motilal Oswal has given a buy rating to UltraTech Cement with a target price of Rs 5690. The share price moved up by 0.81 per cent from its previous close of Rs 4871.45. The stock’s last traded price is Rs 4910.95.
UltraTech Cement Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 141314.21 Crore) operating in Cement sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 10354.21 Crore, up 35.64 % from last quarter Sales of Rs 7633.75 Crore and up 7.63 % from last year same quarter Sales of Rs 9620.47 Crore Company reported net profit after tax of Rs 1234.95 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 59.9 per cent stake in the company as of Sept 30, 2020, while FIIs held 15.4 per cent, DIIs 15.5 per cent and public and others 9.3 per cent.