Buy Orient Cement; target of Rs 319: Anand Rathi

Anand Rathi is bullish on Orient Cement has recommended buy rating on the stock with a target price of Rs 319 in its research report dated May 02, 2024.

Broker Research

May 03, 2024 / 14:02 IST

Buy

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bselive
nselive

Volume

Todays L/H

Anand Rathi's research report on Orient Cement

Anaemic demand in Mar’24 and keener competition hurt Orient’s Q4 volume growth, while realisations rose y/y on the higher share of premium cement. Though the demand-price situation is likely to be under pressure in the mid-term, fuel cost is guided to be stable.

Outlook

The EC process for the Chittapur IU expansion is likely to complete by Jun’24. We retain our Buy, with a lower 12-mth TP of Rs319 (Rs350 earlier), 12x FY26e EV/EBITDA.

For all recommendations report, click here

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Orient Cement - 03052024 - anand

Broker Research

first published: May 3, 2024 02:02 pm

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