Stock to buy, Sept. 8 -- Shares of UltraTech cement ended lower on Tuesday as the Aditya Birla Group company's stock erased nearly all the gains it made following the launch of Ultravolt, its wire and cable brand. While the short-term euphoria around the stock might have fizzled out, HDFC Securities see nearly 25%-27% upside in its valuation.

The new wires and cables business is likely to contribute 6% of the company's total revenue over next five years. The bullish outlook is based on the company's strong distribution network, steady expansion plan and ambitious targets.

The brokerage revised its UltraTech Cement price target upwards as the cement major is "well-placed to sustain market share gains", supported by an estimated 9% volume...