UltraTech Cement stock drops more than 5%, brokerages remain bullish, see up to 46% upside

UltraTech Cement's stock fell more than 5% on Friday, a day after the firm's Board of Directors approved Rs 12,886 crore for "a mix of brownfield and greenfield growth to increase capacity by 22.6 mtpa," the company said in a regulatory filing on Thursday.