Six brokerages keep Buy calls for UltraTech Cement stock after results
Published on 10/21/2026 at 10:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSEarnings and valuation signals
- UltraTech Cement reported INR 14,937.7 million of second-quarter net income on October 19, 2026.
- Six brokerages retained Buy ratings, while JM Financial cut its target to INR 14,000.00 from INR 14,500.00 on October 21, 2026.
- UltraTech Cement stock was last at INR 10,838.00 at 1:39 p.m. IST on October 21, 2026, on the NSE.
UltraTech Cement (INE481G01011) reported second-quarter revenue of INR 232,950.7 million for the period ended September 30, 2026, up 18.8 percent from the prior-year quarter, according to Business Standard. On October 21, 2026, six brokerages retained Buy ratings after the results, while target changes were mixed, ETInfra reported.
Three expansion and earnings markers
On September 23, 2026, MarketScreener listed UltraTech Cement's commissioning of 4.6 million tonnes per annum of cement capacity, linking the move to the company's expansion program, MarketScreener reported. On October 5, 2026, the same company-events page listed an additional 127 megawatts of green-energy capacity.
On October 19, 2026, net income attributable to owners rose 21.3 percent year on year to INR 14,937.7 million, while profit before interest, depreciation and tax increased 17.3 percent to INR 38,320.0 million, Business Standard reported. Domestic grey-cement sales volumes reached 35.94 million tonnes, up 13.8 percent, and capacity utilization rose to 71 percent from 66 percent.
What do the targets imply?
ETInfra reported that HDFC Securities kept its target at INR 14,500.00 and Elara Capital kept INR 13,006.00. JM Financial cut its target from INR 14,500.00 to INR 14,000.00, while Axis Direct reduced its target from INR 14,000.00 to INR 13,250.00. Nirmal Bang raised its target from INR 13,558.00 to INR 13,572.00, and Emkay Global lifted its target from INR 13,000.00 to INR 13,200.00.
Dates and investor context
UltraTech Cement's next scheduled reporting window is the end of January 2027 for the quarter ending December 31, 2026, according to the company's investor calendar. The latest quarter also brought the launch of UltraVolt, a wires and cables business, and global grey-cement capacity reached 210.1 million tonnes per annum as of September 30, 2026.
Stock valuation remains data-led
UltraTech Cement was last at INR 10,838.00 on the NSE at 1:39 p.m. IST on October 21, 2026. Its market capitalization was INR 3.2 trillion, and its 52-week range was INR 10,325.00 to INR 13,110.00 on the same quotation snapshot. The earnings profile combines 18.8 percent revenue growth with higher input-cost pressure, making the target revisions a useful counterpoint to the strong volume figures.
UltraTech Cement stock facts
- Company: UltraTech Cement Limited
- ISIN: INE481G01011
- Ticker: ULTRACEMCO
- Primary exchange: NSE
- Price NSE (as of October 21, 2026, 1:39 p.m. IST): INR 10,838.00
- Market capitalization: INR 3.2 trillion (as of October 21, 2026)
- 52-week range: INR 10,325.00-13,110.00 (as of October 21, 2026)
- Sector / Industry: Construction Materials
Market context: Market report BSE Sensex.
