Buy The Ramco Cements; target of Rs 870: Sharekhan
Sharekhan is bullish on The Ramco Cements has recommended buy rating on the stock with a target price of Rs 870 in its research
report dated August 07, 2019.
August 12, 2019 / 05:10 PM IST
Sharekhan's research report on The Ramco Cements
During Q1, Ramco posted 54% y-o-y growth in standalone net profit led by strong realization growth and contained opex/tonne. The management is confident of achieving 20MTPA capacity by 2020 end majorly to be funded through internal accruals. We expect Ramco to be well placed to benefit from demand revival post monsoon with incremental capacity addition and benign cost environment.
We maintain our Buy rating on The Ramco Cements with unchanged PT of Rs. 870 believing it to be a major beneficiary from addition of incremental capacities and favourable pricing environment in South India.
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