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Ultratech Cement, part of the Aditya Birla Group, reported a 68% on-year increase in net profit for the October-December quarter at Rs 1,777 crore on the back of higher volume and lower costs. Revenue rose 8% on-year to Rs 16,740 crore.
Brokerages viz. Goldman Sachs, Citi, CLSA, BofA, Motilal Oswal, JM Financial and Dolat Analysis & Research Themes (DART) recommended a buy on the stock.
The firm expects to beat its previously guided FY24 revenue growth 55-58% YoY (20% organic) and beat its Ebitda margins guidance of 17%
Brokerages maintain a buy order on Polycab.
Shares of L&T Technology Services Ltd gained 3 percent after the company reported strong earnings and revenue guidance.