UltraTech Cement reported Q4FY16 Ebitda which was ahead of expectation on account of lower than expected costs. The management expects demand growth in the range of 7%-8% in FY17 on the back of elevated govt spending, higher disposable income and better monsoon.
"We believe that UltraTech Cements would be the key beneficiary of recovery in demand on the back of its highly efficient operations, sizeable capacity base and strong balance sheet," said the brokerage note.
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