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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  UltraTech Cement Limited    ULTRACEMCO   INE481G01011

ULTRATECH CEMENT LIMITED

(ULTRACEMCO)
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Indian shares hit record highs as central bank keeps rates steady

12/04/2020 | 12:41am EST

BENGALURU, Dec 4 (Reuters) - Indian shares hit record highs on Friday after the country's central bank kept interest rates steady in the face of stubbornly high inflation, while also retaining its accommodative monetary policy stance.

Reserve Bank of India (RBI) Governor Shaktikanta Das said India's prospects have brightened with progress on COVID-19 vaccines, consumer confidence has turned positive and projected real GDP for the current financial year to contract just 7.5%.

The NSE Nifty 50 index was up 0.80% at 13,239.05 as of 0512 GMT, while the S&P BSE Sensex was up 0.80% at 44,993.92. Both indexes hit record highs. The Indian rupee strengthened to 73.72 against the dollar.

All 53 analysts and economists in a Reuters poll conducted in November said they did not expect any change in rates at the three-day policy meeting ending Friday.

"RBI has been extremely proactive in terms of providing support to the economy and to the market in whichever way possible," said Avneesh Sukhija, senior financial analyst at BNP Paribas India.

Today's decision marks a continuation from October's decision of entering a revival mode from survival, Sukhija added.

Including today's session, the benchmark indexes have hit record highs for 11 of the last 18 sessions, boosted by progress in developing a working coronavirus vaccine. They added more than 11% in November on record inflows from foreign institutional investors.

The RBI has already cut its key interest rate by a total 115 basis points this year to revive growth and cushion the impact of the COVID-19 pandemic.

Rate-sensitive financial stocks also rose after the policy announcement. The Nifty Banking index, which surged nearly 24% in November, was up 1.27%.

UltraTech Cement Ltd rose as much as 6.2% to a record high, a day after the cement manufacturer said it would invest 54.77 billion rupees to expand capacity. (Reporting by Chris Thomas and Anuron Kumar Mitra in Bengaluru; Editing by Shounak Dasgupta)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF INDIA LIMITED -2.46% 53.5 End-of-day quote.9.97%
NIFTY 50 -1.11% 14433.7 Delayed Quote.4.39%
SENSEX 30 -1.11% 49034.67 Real-time Quote.3.65%
ULTRATECH CEMENT LIMITED -2.33% 5452.25 Delayed Quote.5.56%
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Financials
Sales 2021 410 B 5 608 M 5 608 M
Net income 2021 46 953 M 642 M 642 M
Net Debt 2021 129 B 1 761 M 1 761 M
P/E ratio 2021 34,9x
Yield 2021 0,27%
Capitalization 1 573 B 21 498 M 21 496 M
EV / Sales 2021 4,15x
EV / Sales 2022 3,55x
Nbr of Employees -
Free-Float 41,3%
Chart ULTRATECH CEMENT LIMITED
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UltraTech Cement Limited Technical Analysis Chart | ULTRACEMCO | INE481G01011 | MarketScreener
Technical analysis trends ULTRATECH CEMENT LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 35
Average target price 5 587,56 INR
Last Close Price 5 452,25 INR
Spread / Highest target 20,3%
Spread / Average Target 2,48%
Spread / Lowest Target -33,8%
EPS Revisions
Managers and Directors
NameTitle
Kailash Chandra Jhanwar Director & Managing Director
Vivek Agrawal Group Executive President & CMO
Kumar Mangalam Birla Non-Executive Chairman
Pramod Rajgaria President-International Operations
Atul Satish Daga Chief Financial Officer & Director
Sector and Competitors
1st jan.Capitalization (M$)
ULTRATECH CEMENT LIMITED5.56%22 023
CRH PLC8.05%35 039
VULCAN MATERIALS COMPANY8.30%21 284
MARTIN MARIETTA MATERIALS, INC6.64%18 858
HEIDELBERGCEMENT AG10.16%16 253
CHINA NATIONAL BUILDING MATERIAL COMPANY LIMITED5.04%10 921