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Buy Chettinad Cement: Geojit BNP Paribas
Geojit BNP Paribas Financial Services has recommended a buy rating on Chettinad Cement, in its report dated October 22, 2009. At 1:10 pm the share was quoting at Rs 418.50, up Rs 1.40, or 0.34%.
Geojit BNP Paribas Financial Services has recommended a buy rating on Chettinad Cement , in its report dated October 22, 2009. At 1:10 pm the share was quoting at Rs 418.50, up Rs 1.40, or 0.34%.
"With government focusing on development of infrastructure and impetus to housing sector, there is lot of opportunities for Cement Industry both in short term and long term. To cater to growing demand, CCL is on expansion spree. All these proposed plants should be commissioned and ready for production by the time Indian and world economy is fully on the path of resurgence and thus, company would be in a position to make the most of the economic recovery. At CMP of Rs 416 the share (Rs 10 paid up) is trading at 6.9 times FY 2010 expected EPS of Rs 60. In view of excellent future prospects, we recommend to "BUY" the share at CMP," says Geojit BNP Paribas Financial Services' report.
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