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Last Updated : Aug 12, 2020 04:07 PM IST | Source: Moneycontrol.com

Buy JK Lakshmi Cement; target of Rs 370: Anand Rathi

Anand Rathi is bullish on JK Lakshmi Cement has recommended buy rating on the stock with a target price of Rs 370 in its research report dated August 11, 2020.

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Anand Rathi 's research report on JK Lakshmi Cement

The lockdown hit JK Lakshmi’s Q1 performance. Its revenue/ EBITDA/PAT fell 21%/15.6%/36%. Management’s focus on de-levering continues; it is keeping on hold its expansion in the North. The East and West continue to suffer from cities being locked down; pockets in the North are also locked down. The migrant labour issue resolution, firm prices, rising institutional demand, fixed-cost savings and the 10MW WHRS at Sirohi will help its performance.


We retain our Buy call, with a `370 target (`325 earlier).

For all recommendations report, click here

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First Published on Aug 12, 2020 03:31 pm