Buy Orient Cement; target of Rs 233: Anand Rathi

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

Anand Rathi's research report on Orient Cement

In the high-cost milieu and heavy and unseasonal monsoon, Orient’s performance was much better than its peers, although its EBITDA/ PAT fell 14%/19% y/y (on a high base). While de-levering continues, the company has attractively financed the balance debt. Cost optimisation measures, a rake-handling system, the WHRS setup and solar power are positives.

Outlook

We retain our Buy rating, with a slightly lower target of Rs.233 (earlier Rs.240) on 7x FY24e EV/EBITDA.

More Info

At 17:30 Orient Cement was quoting at Rs 171.75, down Rs 1.15, or 0.67 percent.

It has touched an intraday high of Rs 173.90 and an intraday low of Rs 170.50.

It was trading with volumes of 50,143 shares, compared to its thirty day average of 60,739 shares, a decrease of -17.45 percent.

In the previous trading session, the share closed up 0.09 percent or Rs 0.15 at Rs 172.90.

The share touched its 52-week high Rs 185.50 and 52-week low Rs 87.50 on 08 November, 2021 and 12 February, 2021, respectively.

Currently, it is trading 7.39 percent below its 52-week high and 96.34 percent above its 52-week low.

Market capitalisation stands at Rs 3,518.62 crore.

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.

Read More