Buy Madras Cements, says SP Tulsian

Buy Madras Cements, says SP Tulsian of sptulsian.com.

Tulsian told CNBC-TV18, "Buy Madras Cement. We have seen re-rating of all cement stocks especially those which have a capacity of more than 10 million tones and Madras Cements is the flagship company of Ramco group having capacity of over 10 million tones and if you see the present market cap of the company that is quite low at Rs 2400 crore while the net present value of the plant is estimated at Rs 7500 crore, while the equity of the company is quite low. And in fact the stock has witnessed the informed buying in last 2-3 days and that indicates that some corporate developments may happen in the stock and hence the day target on the stock has been given at Rs 104 with stop loss of Rs 97."