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    HomeNewsBusinessStocksBuy J K Cement; target of Rs 883: Motilal Oswal

    Buy J K Cement; target of Rs 883: Motilal Oswal

    Motilal Oswal is bullish on J K Cement has recommended buy rating on the stock with a target price of Rs 883 in its research report dated November 06, 2018.

    Broker Research
    November 12, 2018 / 17:04 IST
       
       
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      Motilal Oswal's research report on J K Cement

      Grey cement volumes (incl. clinker) declined by 3% YoY to 1.87mt and white cement volumes by 2% YoY to 0.29mt in 2QFY19. Grey cement realizations stood at INR4,005/ton (+5% QoQ) and white cement realizations (incl. putty) at INR11,664 (+4% YoY; -1% QoQ). Revenue declined 1% YoY to INR11b in the quarter.

      Outlook

      We value white cement at 10x Sept’20 EV/EBITDA, grey cement at 8x Sept’20 EV/EBITDA and Fujairah at 6x Sept’20 EV/EBITDA to arrive at a TP of INR883. Buy.

      For all recommendations report, click hereDisclaimer: 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.

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      Broker Research
      first published: Nov 12, 2018 05:04 pm

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