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Feb 15, 2017, 01.30 PM | Source: Moneycontrol.com

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.

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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.

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Centrum's research report on Ramco Cements

TRCL has been capitalising its balance sheet strength to build fuel inventory, thus moderating impact of rising energy costs. Thus, we expect TRCL to continue to deliver 17% EBITDA CAGR over FY16-19E and sustain industry leading operating performance/ return ratios. Amid low capex outlook for the next two to three years, we estimate TRCL to become a zero net debt company in FY118/19E.

Outlook

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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Disclaimer:
The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click here

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Buy Ramco Cements; target of Rs 770: Centrum

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