UltraTech Cement is the India's largest and the world's 10th largest manufacturer of cement. The company s part of the US $35 billion Aditya Birla Group. It provides a range of products that cater to all the needs from laying the foundation to delivering the final touches. It is trading in a bullish trend and several arguments argue for the continuation of this trend.
The company’s fundamentals are still strong. Sales are up + 13.3% for one year. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates. The last EPS was at INR 89.22.
From a technical viewpoint, the security is trading in a bullish trend in the short and the long term. Increasing moving averages let think there will be no reversal in the coming trading sessions. This growth should help to reach soon the INR 1817 long term resistance.
According to both technical and fundamental elements, it seems opportune to take a long position at the current price. The bullish trend should allow the security to reach the INR 1816.86 resistance. If the stock crosses it, a new target price will be set. A stop loss will be placed under INR 1586 (pivot point and 20-day moving average) to avoid a downtrend.
UltraTech Cement Limited is India's leader in producing and selling cements and construction materials. The group offers gray and white cements, granulates, ready-to-use concrete, mortars, coatings, binders, etc.
At the end of March 2021, UltraTech Cement Limited had 23 cement plants, over 130 concrete factories in India and 27 grinding facilities (of which 23 in India).
India accounts for 99.3% of net sales.
ULTRATECH CEMENT LIMITED 
