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UltraTech Cement Q2 Results Review - In The Proving Ground; ICICI Securities Maintains 'Hold' Rating

Given the sectoral challenges, the brokerage see limited scope to revise upwards its valuation multiple of 16x FY26E EV/Ebitda.

<div class="paragraphs"><p>Close view of cement mix in a bucket. (Source: freepik)</p></div>
Close view of cement mix in a bucket. (Source: freepik)
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