Grasim Industries has target close to Rs 2800: Joshi

Grasim Industries has target cose to Rs 2800, says Sharmila Joshi, Fairwealth Securities.

Joshi told CNBC-TV18, "If you are buying Grasim as a holding company of a cement stock then the outlook for cement is really neutral. We have seen the kind of price hikes in raw materials, coal has seen a huge jump and all these things remain a concern because any cement hike that you are seeing is really to a kind of cover cost rather than really add to the EBITDA. But for Grasim the plus is that their VSF business is doing well and their chemical business is doing well. So definitely I see a higher target."
She further added, "I do see a target close to about Rs 2800 for Grasim but I don