Sharekhan is bullish on The Ramco Cements has recommended buy rating on the stock with a target price of Rs 955 in its research report dated October 14, 2020.
Sharekhan's research repor on The Ramco Cements
Cement prices in the southern region for October remain up 16% compared to April 2020, maintaining May 2020 levels. EBITDA/tonne to rise despite weak Q2 demand. Capacity expansion plan of Rs. 3,500 crore is progressing well. Commissioned 1MTPA Odisha GU in October. Standalone D/E ratio is expected to reduce from 0.6x in FY2020 to 0.2x in FY2022E despite capacity expansions. Ramco to benefit from the expected improvement in cement demand from Q3FY2021 and favourable cement pricing scenario in the key South Indian market.
We maintain Buy on The Ramco Cements (Ramco) with a revised PT of Rs. 955.
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.