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Last Updated : Nov 09, 2020 04:23 PM IST | Source: Moneycontrol.com

Buy JK Lakshmi Cement; target of Rs 435: HDFC Securities

HDFC Securities is bullish on JK Lakshmi Cement has recommended buy rating on the stock with a target price of Rs 435 in its research report dated November 07, 2020.

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HDFC Securities' research report on JK Lakshmi Cement

During 2QFY21, JK Lakshmi Cement (JKLC) reported strong 16% volume growth, riding on strong regional demand. Along with lower opex, this drove standalone revenue/EBITDA/APAT to grow 12/26/76% to Rs 10.45/1.87/0.81bn respectively. Robust 2Q and working capital compression aided 33% net debt reduction vs Mar’20.


We maintain BUY rating on the stock with an SOTPbased target price of Rs 435/share. We like JKLC for its large exposure to the lucrative north/central markets and cost stabilisation in its east operations.

For all recommendations report, click here

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First Published on Nov 9, 2020 04:23 pm