Buy Ramco Cements; target of Rs 770: Centrum
Centrum is bullish on Ramco Cements has recommended buy rating on the stock with a target price of Rs 770 in its research report dated February 07, 2017.
Centrum's research report on Ramco Cements
We maintain our Buy rating on Ramco Cements (TRCL) and revise our TP to Rs 770 (earlier TP Rs 700). TRCL delivered strong 22% YoY volume growth in Q3FY17 (+11% YoY growth in south, +68% YoY in east) which offset weak pricing YoY and led to 8% YoY EBITDA growth. Lower interest cost and higher other income further boosted adj PAT growth by 43% YoY. Strong volume growth should continue to deliver operating leverage gains.
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