Shares of Ultratech Cement Ltd. fell as much as 2.67, the steepest intraday decline in eight sessions, to Rs 7,660 apiece after analysts reiterated concerns over input costs.
- The company’s margin contracted in the third quarter.
- Analysts say that cost inflation could be sticky if crude prices remained high.
- Of the 45 analysts tracking the company, 39 maintained ‘buy’, four maintained ‘hold’ and two maintained ‘sell’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 12.4%.
- Trading volume on the stock was nearly six times the 30-day average volume, at this time in the day.
Source: Exchange filing, Brokerage notes, Bloomberg
