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Last Updated : May 11, 2020 01:42 PM IST | Source: Moneycontrol.com

Buy Shree Cement target of Rs 20660: Sharekhan

Sharekhan is bullish on Shree Cement has recommended buy rating on the stock with a target price of Rs 20660 in its research report dated May 08, 2020.

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Sharekhan's research report on Shree Cement


During Q4FY2020, Shree Cement reported better-than-expected operational performance, backed by higher realisation and reduced cost of production. Cement volumes were affected by COVID-19-led lockdown. Shree Cement will not undertake any new capacity expansion plan for atleast a year, as cement demand is expected to decline during FY2021. However, cement demand is likely to bounce back in FY2022. Shree Cement’s recent fund raising of Rs. 2,400 crore would aid in maintaining healthy liquidity profile and better working capital management in the near term.


Outlook


We reiterate our Buy rating on Shree Cement Limited (Shree Cement) with a revised PT of Rs. 20,660,considering its strong balance sheet, efficient operations, and scarcity premium (relatively low absolute free float).


For all recommendations report, click here


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First Published on May 11, 2020 01:42 pm
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