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Last Updated : Feb 15, 2018 02:29 AM IST | Source: Moneycontrol.com

Buy Heidelberg Cement India; target of Rs 195: Prabhudas Lilladher

Prabhudas Lilladher is bullish on Heidelberg Cement India has recommended buy rating on the stock with a target price of Rs 195 in its research report dated February 08, 2018.

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Prabhudas Lilladher's research report on Heidelberg Cement India


Heidelberg cement (HEIM) reported strong set of Q3FY18 result with beat across the fronts. Beat was largely on the back of better than expected volume growth and lower costs. Demand would remain firm in its key markets like UP on the back of strong govt spending on low cost housing and infrastructure sector, revival of private spending in rural areas and easing of sand shortage. Contrary to market's expectation of pressure due to higher supplies from Ultratech, prices in the region improved (firmed up further in January) in quarter with the limited increase in supplies as the acquired capacity was already operating at high utilisation rates.


Outlook
Our BUY rating on HEIM remains intact given the strong outlook on region and attractive valuations. Reiterate BUY with TP of Rs195, EV/EBITDA of 10x FY20e.


For all recommendations report, click here


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First Published on Feb 8, 2018 04:37 pm
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