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Buy Dalmia Cement :Alchemy
Alchemy research has maintained buy rating on Dalmia Cement. At Rs 536.55/share, DCBL (on a consolidated basis) trades at a P/E of 9.7x FY09E and 6.45x FY10E.
Alchemy research has maintained buy rating on Dalmia Cement in its December 31, 2007 report. "At Rs 536.55/share, DCBL (on a consolidated basis) trades at a P/E of 9.7x FY09E and 6.45x FY10E. The only other comparable cement company is Grasim (Its VSF division has a substantially higher OPM than the sugar/cement division of DCBL but the OPM of cement division is lower than DCBL's cement division), which is trading at a P/E of 10.52x FY09E. DCBL should be re-rated primarily due to improvements in its cement division's performance and turnaround in the sugar division Buy," according to Alchemy report.
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