Shares of were trading up 0.47 per cent at ₹11,328 as of 10.37 am on Friday, opening at ₹11,357 and touching a high of ₹11,434 in early trade, as stocks reacted to two significant announcements from the Aditya Birla Group company over the past two trading sessions.
The more closely watched development is the formal launch of Ultravolt, the group’s wires and cables business, which commenced commercial production from September 1. Housed under UltraTech Cement, the business has been set up with an initial investment of ₹1,800 crore and a manufacturing plant at Jhagadia in ’s Bharuch district, with an installed capacity of 1.1 million km. The company aims to become one of the top two players in the wires segment within five years, an ambitious target that analysts say mirrors the group’s aggressive playbook in the paints business through Birla Opus.
The launch is ahead of the previously stated December timeline. Morgan Stanley, which has an Overweight rating and a target price of ₹14,700, noted that approximately ₹890 crore had already been deployed as of June-end against the total ₹1,800 crore budget, flagging the pace of execution as a positive signal. Jefferies, with a Buy rating and target of ₹14,065, said Ultravolt’s positioning appears more aggressive than initially envisaged and estimated that at scale, the business could contribute 3-7 per cent of UltraTech’s FY30 revenue and EBITDA. Motilal Oswal, also maintaining a Buy with a target of ₹13,800, estimates the company could capture 5-7 per cent market share in cables and wires by FY31.
Separately, UltraTech on September 2 announced plans to scale its fleet to 600-plus vehicles by December 2026, targeting transport of five million MT of clinker annually with a potential CO₂ reduction of over 1,17,000 tonnes per year.
At current prices, UltraTech trades at a trailing P/E of 38.76. The stock is down about 10.45 per cent over the past year, against the Nifty 50’s 3.11 per cent decline over the same period, with its 52-week high standing at ₹13,110 hit in February.