Buy Ambuja Cements; target of Rs 308: HDFC Securities
HDFC Securities is bullish on Ambuja Cements has recommended buy rating on the stock with a target price of Rs 308 in its research report dated February 20, 2021.
February 22, 2021 / 03:49 PM IST
HDFC Securities' research report on Ambuja Cements
During 4QCY20, ACEM printed a healthy performance, capitalising on strong demand and pricing (primarily in the north). Cost controls further bolstered margin. Thus, standalone net sales/EBITDA/APAT rose 12/40/49% to INR 35.2/7.7/5.0 bn respectively. Over the next two years, ACEM’s profitability will benefit from its capacity expansion in the north and low-cost WHRS and solar power expansions. ACEM also hinted that it is exploring capacity expansion at various locations to drive long-term growth visibility.
We maintain BUY with a revised SOTP-based target price of INR 308/sh.
For all recommendations report, click here
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.