The Uttar Pradesh government today announced a hike in the state advised price (SAP) for sugarcane procurement at Rs 275-290 per quintal for 2012-13. SAP is the price below which mills cannot buy cane from farmers.
Nirav Shah, manager research of Antique Broking says ACC, Ambuja and Ultratech are nearing his price targets. “ACC, we had a price target of Rs 1,122. So, we have a hold on that. Ambuja, we have a price target of Rs 146, again a hold on that. We have a buy on the Shree Cement with a target of Rs 2,275,” he adds.
Buy Shree Cements with a target of Rs 2275, says Nirav Shah, Manager Research, Antique Broking.
By: Khyati Shah & Nirav Shah, PwC India