Bengaluru, May 1 -- A brokerage issued a buy recommendation on the shares of India's largest manufacturer of grey cement and white cement producers, projecting a potential upside of 25%.

Ultratech Cement Ltd, a part of Aditya Birla Group. The company operates in the white business of manufacturing cement and ready-mix concrete. Its core activities revolve around the manufacturing and distribution of various cement products, predominantly within India.

As of March 2024, the company had a total cement capacity of 146.2 mtpa, with the North region accounting for 23%, followed by the West (21%), Central & East (19% each), South (14%), and Overseas (4%).

Currently, the company is in the process of further expanding its capacity to 174.2 mtp...