Thursday, 13 November 2008

Hold Ultratech Cement, target Rs 369: Indiabulls Securities

Indiabulls Securities Research has recommended a hold rating on Ultratech Cement, with price target of Rs 369, in its report dated October 29, 2008. "We have valued the Company’s stock by using the DCF methodology. Our key assumptions include a 5% terminal growth rate, a 12.6% cost of capital, and an 8% risk free rate. Our fair value estimate of Rs 369 reflects an upside potential of 10% from the current market price. Hence we reiterate our Hold rating on the stock," says Indiabulls Securities' research report.

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Source: Moneycontrol

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