Webinar :Register now for Commodity Ki Paathshala webinar on ‘FPOs & Agriculture Marketing-The Beginning of a New Era’ on January 22, 4pm

Buy Orient Cement target of Rs 65: Anand Rathi

Anand Rathi is bullish on Orient Cement has recommended buy rating on the stock with a target price of Rs 65 in its research report dated May 28, 2020.

May 29, 2020 / 03:30 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Anand Rathi 's research report on Orient Cement


In keeping with the industry, Orient Cement’s Q4 revenue/EBITDA/ PAT dipped 13%/18.5%/29%, following the 10-day lockdown in Mar. To safeguard liquidity in the now uncertain demand circumstance, it postponed expansions and shifted focus to de-levering. The migrant labour impact and supply-chain unavailability are key monitorables. We retain our Buy rating, with a higher target of `65 (earlier `53).



Outlook


With capex postponed, we have raised our FY21e/22e PAT 101%/37%. We retain our Buy rating, with a higher target of `65, based on 6.5x FY22e EV/EBITDA (earlier 7.5x) and an EV/ton of $37.




For all recommendations report, click here


Disclaimer: 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.

Broker Research
first published: May 29, 2020 03:30 pm

stay updated

Get Daily News on your Browser
Sections