Webinar :Register now for webinar on 'Trade BankNifty in just 15 minutes a day' - By Asmita Patel
Last Updated : Jun 09, 2017 10:55 AM IST | Source: Moneycontrol.com

Buy ITD Cementation; target of Rs 202: Axis Direct

Axis Direct is bullish on ITD Cementation has recommended buy rating on the stock with a target price of Rs 202 in its research report dated May 17, 2017.

  • bselive
  • nselive
Todays L/H

Axis Direct's research report on ITD Cementation

ITD Cementation in its Q1CY17 posted revenue of Rs.523cr vs Rs.973.2 cr in Q1CY16 this was due to weak execution which resulted in lower revenue from JNPT project of just Rs.60 cr vs Rs.260cr in Q4CY16. Delayed execution at Haldia and other projects was owing to delayed permission which impacted the company’s revenue billed for this quarter.


We are positive on the company with its strong order book, improving margins & strengthened balance sheet. On the execution front, the management is confident to ramp up the execution in the coming quarter. With this development, we revise our rating to buy on ITD with a target price of Rs.202.

For all recommendations, 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.

First Published on May 22, 2017 05:05 pm