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Buy Shree Cement; target of Rs 24,000: Sharekhan

Sharekhan is bullish on Shree Cement has recommended buy rating on the stock with a target price of Rs 24,000 in its research report dated July 29, 2022.

July 31, 2022 / 02:42 PM IST
 
 
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Sharekhan's research report on Shree Cement


In Q1FY2023, standalone operational numbers were in line with estimates, while net earnings lagged owing to loss on fair value of investments and higher-than-estimated depreciation. The management expects an 8-10% y-o-y rise in sales volume along with 3-4% y-o-y increase in cement prices for FY2023. Power & fuel costs are likely to inch higher during Q2FY2023 before tapering downwards. The company is expanding capacity to drive up its total domestic cement capacity to 56 mtpa by FY2025 from 46.4 mtpa.


Outlook


We retain a Buy on Shree Cement with a revised PT of Rs. 24,000, factoring in downwardly revised estimates.


For all recommendations report, click here

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Shree Cement - 290722 - khan

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first published: Jul 31, 2022 02:39 pm
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