Budget 2021

Associate Partners:

  • SMC
  • Samsung
  • Volvo


Budget 2021

Associate Partners:

  • SMCSamsungVolvo
Webinar :Join an expert panel for a webinar on Smart investments for a secure retirement January 28, 2021. Register now!

Buy Shree Cement target of Rs 22,500: Sharekhan

Sharekhan is bullish on Shree Cement has recommended buy rating on the stock with a target price of Rs 22,500 in its research report dated October 22, 2019.

October 23, 2019 / 02:57 PM IST
  • bselive
  • nselive
Todays L/H

Sharekhan's research report on Shree Cement

We upgrade Shree Cement to Buy with a revised PT of Rs. 22,500, owing to upward revision in net earnings estimates along with favourable demand and pricing environment in its key northern region of operations. During Q2FY2019, Shree Cement reported better-than-expected standalone net profit, led by strong cement realisation growth along with a decline in operating cost structure. The power division’s performance was, however, disappointing. Shree Cement targets 46MTPA capacity by FY2021 end and 60MTPA in four years from 40MTPA currently. The company would be raising Rs. 3,000 crore through QIP over a year’s time to fund its capacity expansion plans.


We increase our net earnings estimate for FY2020-FY2021, factoring higher realisation and lower opex, leading to upward revision in our PT to Rs. 22,500.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Oct 23, 2019 02:57 pm

stay updated

Get Daily News on your Browser