Moneycontrol
/home/moneycontrol/commonstore/commonfiles/headband_data_live.json
Array
(
    [0] => Array
        (
            [title] => Exclusive keynote by MSME Minister Nitin Gadkari at Small Business Virtual Summit with CISCO on 17th July - Register Now
            [lp_url] => https://www.moneycontrol.com/cisco-smb-virtual-summit/?utm_source=moneycontrol&utm_medium=headband&utm_campaign=cisco_smb
            [ga_event_tracker] => Array
                (
                    [category] => Register-webinar
                    [action] => From-Home
                    [label] => Register-webinar
                )

            [start_date] => 2020-07-08 00:00:00
            [start_date_epoch] => 1594146600
            [end_date] => 2020-07-10 16:00:00
            [end_date_epoch] => 1594377000
            [rank] => 1
        )

    [1] => Array
        (
            [title] => LIVE Webinar: RSI - 5 Star Trading Strategy Webinar by Vishal B. Malkan . Watch Now!
            [lp_url] => https://www.moneycontrol.com/ms/malkansviews/?utm_source=Moneycontrol&utm_medium=Headdband
            [ga_event_tracker] => Array
                (
                    [category] => Watchnow-webinar
                    [action] => From-Home
                    [label] => Watchnow-webinar
                )

            [start_date] => 2020-07-10 16:00:00
            [start_date_epoch] => 1594377000
            [end_date] => 2020-07-10 17:00:00
            [end_date_epoch] => 1594380600
            [rank] => 2
        )

    [2] => Array
        (
            [title] => Tune in on 17th July for the Small Business Virtual Summit with Cisco. Register now!
            [lp_url] => https://www.moneycontrol.com/cisco-smb-virtual-summit/?utm_source=moneycontrol&utm_medium=headband&utm_campaign=cisco_smb
            [ga_event_tracker] => Array
                (
                    [category] => Register-webinar
                    [action] => From-Home
                    [label] => Register-webinar
                )

            [start_date] => 2020-07-10 17:00:00
            [start_date_epoch] => 1594380600
            [end_date] => 2020-07-17 11:00:00
            [end_date_epoch] => 1594963800
            [rank] => 3
        )

    [3] => Array
        (
            [title] => Special Offer: Subscribe to Moneycontrol PRO at ₹1 per day for the first year. Use Coupon: PRO365.
            [lp_url] => https://www.moneycontrol.com/promos/pro.php
            [ga_event_tracker] => Array
                (
                    [category] => PRO365
                    [action] => From-Home
                    [label] => Ribbon
                )

            [start_date] => 2020-07-17 11:00:00
            [start_date_epoch] => 1594963800
            [end_date] => 2020-07-31 23:00:00
            [end_date_epoch] => 1596216600
            [rank] => 4
        )

)
Array
(
    [count] => 1
    [data] => Array
        (
            [0] => Array
                (
                    [title] => Tune in on 17th July for the Small Business Virtual Summit with Cisco. Register now!
                    [link] => https://www.moneycontrol.com/cisco-smb-virtual-summit/?utm_source=moneycontrol&utm_medium=headband&utm_campaign=cisco_smb
                    [ga_event_tracker] => Array
                        (
                            [category] => Top Band
                            [action] => Virtual Summit
                            [label] => From-Home
                        )

                )

        )

)
Tune in on 17th July for the Small Business Virtual Summit with Cisco. Register now!
Last Updated : Jun 30, 2020 12:24 PM IST | Source: Moneycontrol.com

Buy Star Cement; target of Rs 104: YES Securities

YES Securities is bullish on Star Cement has recommended buy rating on the stock with a target price of Rs 104 in its research report dated June 28, 2020.

Broker Research @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

YES Securities' research report on Star Cement


Robust demand scenario in NER and East during Q4FY20 helped the company outperform on volume front as compared to overall industry and its peers. Total volumes for the quarter came in at 0.84 MT, which was flattish on y/y basis vs industry de-growth of ~5-7% y/y. Improvement in realizations for the company (NSR +2.5% y/y) was majorly offset by increase in energy costs due to higher reliance on imported coal (vis-à-vis procurement of lower cost domestic coal last year). Accordingly, EBITDA/te of STAR stood at Rs 1,478 (-2% y/y) while absolute EBITDA was ~Rs 1.25 bn (-1.8% y/y). We reckon that STAR would be relatively unscathed from COVID pandemic as its core operating market of NER has witnessed least impact of COVID. Further, commissioning of 2 MTPA Siliguri plant by Q2FY21 would uphold volume dispatches of the company.



Outlook


Accordingly, we factor in volume CAGR of 12.7% over FY20-FY22E. Currently STAR is trading at EV/EBITDA at ~7.3x and EV/te of $85 on FY22E. Taking an average of EV/EBITDA and DCF derived values, we have a target of Rs 104/share (implied EV/EBITDA multiple of 8.7x on FY22E).





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.

First Published on Jun 30, 2020 12:24 pm
Sections