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Last Updated : Apr 05, 2019 12:29 PM IST | Source: Moneycontrol.com

Buy Shree Cement; target of Rs 20,800: Sharekhan

Sharekhan is bullish on Shree Cement has recommended buy rating on the stock with a target price of Rs 20,800 in its research report dated April 04, 2019.

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Sharekhan's research report on Shree Cement


Cement prices have shown healthy improvement in Shree Cement’s region of operations during Q4FY2019. Pet coke prices have shown a declining trend over the trailing two quarters, while cement production for the industry during January-February 2019 has shown a 9.5% y-o-y increase. Shree Cement’s capacity expansion plans to reach 45MT by FY2021 are likely to aid in sustaining a higher volume growth trajectory going ahead.


Outlook


We maintain Buy on Shree Cement with a revised PT of Rs. 20,800, factoring the increase in earnings estimate and assigning higher valuation multiple on account of favourable business outlook.


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.




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First Published on Apr 5, 2019 12:29 pm
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