Name: Latest research reports of UltraTech Cement Ltd. authored by BOB Capital Markets Ltd. and published by - Trendlyne research reports.
Item: UltraTech Cement Ltd.
Rating: 5
Author: BOB Capital Markets Ltd.

Summary	Date	Stock	Author	LTP	Target	Price at reco (Change since reco%)	Upside(%)	Type	Report	Discuss
	29 Apr 2025	UltraTech Cement	BOB Capital Markets Ltd. Target	11383.00	13919.00	11869.00 (-4.09%)	22.28	Buy	pdf post cache	Broker Report Ultratech Cement (BUY): Well-oiled for challenges; maintain BUY BOB Capital Markets Ltd. Healthy 10% YoY volume growth aids flat top line despite 10% dent in realisations in a challenging Q4; capacity utilisation spikes at ~90% pdf Copy Link Share on Share on Share on Share on Alert
	29 Apr 2025	Firstsource Solutions	BOB Capital Markets Ltd. Reco Target	385.70	379.00	351.70 (9.67%)	Target met	Hold	pdf post cache	Broker Report Firstsource Solutions (HOLD): FY26 growth guidance strongest among peers, thus far- Top pick in Tier-2. BOB Capital Markets Ltd. 4QFY25 came in at the upper end of guidance. 15.6% YoY CC revenue organic growth in FY25 top quadrant performance pdf Copy Link Share on Share on Share on Share on Alert
	29 Apr 2025	TVS Motor Company	BOB Capital Markets Ltd. Target	2777.20	2738.00	2702.60 (2.76%)	Target met	Hold	pdf post cache	Broker Report TVS Motor (HOLD): Steady show in a challenging environment; maintain HOLD BOB Capital Markets Ltd. Q4 revenue grew in double digits at 17%/5% YoY/QoQ) to Rs 95.5bn, backed by volume growth of 16% YoY (flat QoQ) to ~1.22mn units pdf Copy Link Share on Share on Share on Share on Alert
	28 Apr 2025	IDFC First Bank	BOB Capital Markets Ltd. Target	70.15	79.00	66.50 (5.49%)	12.62	Buy	pdf post cache	Broker Report IDFC First Bank (BUY): Poised for higher profitability BOB Capital Markets Ltd. PAT beat estimates, aided by higher non-interest income and lower operating expenses pdf Copy Link Share on Share on Share on Share on Alert
	27 Apr 2025	DCB Bank	BOB Capital Markets Ltd. Target	142.05	160.00	127.03 (11.82%)	12.64	Buy	pdf post cache	Broker Report DCB Bank (BUY): Robust growth, efficiency gain aid steady performance BOB Capital Markets Ltd. Business growth remains strong with a rising focus towards high-yielding advances pdf Copy Link Share on Share on Share on Share on Alert
	25 Apr 2025	Laurus Labs	BOB Capital Markets Ltd. Reco Target	660.55	641.00	625.65 (5.58%)	Target met	Hold	pdf post cache	Broker Report Laurus Labs (HOLD): Visibility of Operating Leverage BOB Capital Markets Ltd. Revenue/EBITDA/PAT exceeded our estimates by 8.4%/32.6%/110.3%; EBITDA margin surpassed our estimate by 440 bps pdf Copy Link Share on Share on Share on Share on Alert
	25 Apr 2025	Persistent Systems	BOB Capital Markets Ltd. Target	6068.00	3703.00	5273.50 (15.07%)	38.97	Sell	pdf post cache	Broker Report Persistent Systems (SELL): Delivers strong growth but pricey at 47x BOB Capital Markets Ltd. Delivers industry leading growth in FY25 and in 4QFY25 and maintains its aspiration of US$2bn revenue by FY27 (20% CAGR) pdf Copy Link Share on Share on Share on Share on Alert
	25 Apr 2025	SBI Life Insurance	BOB Capital Markets Ltd. Target	1800.20	2008.00	1695.10 (6.20%)	11.54	Buy	pdf post cache	Broker Report SBI Life (BUY): Margins expand, poised to remain at similar levels BOB Capital Markets Ltd. Moderate APE growth of 2% YoY in Q4FY25, 9% YoY in FY25; while VNB margins expand ~200bps YoY in Q4 pdf Copy Link Share on Share on Share on Share on Alert
	25 Apr 2025	Hindustan Unilever	BOB Capital Markets Ltd. Target	2328.60	2713.00	2332.20 (-0.15%)	16.51	Buy	pdf post cache	Broker Report Hindustan Unilever (BUY): Focused on top line BOB Capital Markets Ltd. 4QFY25 sales were in line, but EBITDA 2% ahead of Bloomberg consensus pdf Copy Link Share on Share on Share on Share on Alert
	25 Apr 2025	Axis Bank	BOB Capital Markets Ltd. Target	1215.10	1354.00	1166.30 (4.18%)	11.43	Hold	pdf post cache	Broker Report Axis Bank (HOLD): Growth remains challenging; asset quality improved BOB Capital Markets Ltd. Muted advances and deposits growth, with low signs of improvement in near term pdf Copy Link Share on Share on Share on Share on Alert
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BOB Capital Markets Ltd. Broker Research reports

Latest broker research reports from BOB Capital Markets Ltd. buy, sell, hold, neutral recommendations along with share price targets forecast and upside.

Ultratech Cement (BUY): Well-oiled for challenges; maintain BUY

Firstsource Solutions (HOLD): FY26 growth guidance strongest among peers, thus far- Top pick in Tier-2.

TVS Motor (HOLD): Steady show in a challenging environment; maintain HOLD

IDFC First Bank (BUY): Poised for higher profitability

DCB Bank (BUY): Robust growth, efficiency gain aid steady performance

Laurus Labs (HOLD): Visibility of Operating Leverage

Persistent Systems (SELL): Delivers strong growth but pricey at 47x

SBI Life (BUY): Margins expand, poised to remain at similar levels

Hindustan Unilever (BUY): Focused on top line

Axis Bank (HOLD): Growth remains challenging; asset quality improved

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