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Buy JK Lakshmi Cement; target of Rs 661: Anand Rathi

Anand Rathi is bullish on JK Lakshmi Cement has recommended buy rating on the stock with a target price of Rs 661 in its research report dated May 23, 2022.

May 24, 2022 / 01:54 PM IST
The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

 
 
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Anand Rathi's research report on JK Lakshmi Cement


Strong volume growth and operating efficiencies led to JK Lakshmi’s reported best quarterly performance. WHRS savings, a solar power plant (to be set up), greater share of alternative fuel, etc., would help contain high costs. With capacity expansion at its subsidiary, standalone volume growth would come from the improving blended mix and higher capacity utilisation.



Outlook


We retain our Buy call, with a TP of Rs661 (Rs727 earlier).

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first published: May 24, 2022 01:54 pm
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