UltraTech Cement Shares Rise 3% as Brokerages Retain Bullish Outlook After Q2 Results.

Strong volume growth, capacity expansion and cost-saving initiatives underpin optimism despite rising energy expenses.   UltraTech Cement shares gained over 3% in early trade on October 21, 2026, reaching ₹10,950 on the BSE, compared with the previous close of ₹10,620.10. The rally followed the company’s Q2FY27 results, prompting six domestic brokerages to maintain their ‘Buy’ ratings. Analysts highlighted strong volume growth and a healthy operating margin profile, although higher energy costs and seasonal factors reduced sequential EBITDA per tonne to ₹1,974. Recent cement price increases, favourable construction activity and additional capacity are expected to support profitability in the second half of FY27. UltraTech commissioned 4.6 million tonnes per annum of capacity during Q2, taking its consolidated capacity to nearly 210 million tonnes annually. The company retained its ₹10,000 crore FY27 capital expenditure guidance and announced a ₹1,800 crore investment plan for its UltraVolt wires and cables business. Brokerages’ target prices range from ₹13,006 to ₹14,500, reflecting confidence in long-term growth prospects.