ICICI Securities has buy call on The
Ramco Cements with a target price of Rs 1120. The current market price of The Ramco Cements is Rs 963.5.
The Ramco Cements Ltd, incorporated in the year 1957, is a Large Cap company with a market cap of Rs 22698.51 Crore, operating in Cement sector.
The Ramco Cements Ltd's key Products/Revenue Segments include Cement, Power, Dry Mortar Mix, Ready Mix Concrete, Other Operating Revenue, Scrap for the year ending 31-Mar-2020.
Investment Rationale
The Ramco Cement’s capacity addition of 1.5 mnte clinker unit in Jayanthipuram and 2.25 mnte clinker unit in Kurnool has been delayed by a quarter owing to covid resurgence and is now expected to be commissioned during Q1FY22 and Q2FY22, respectively. Hence, The Ramco Cement is expected to report strong volume growth over FY22-23E. Factoring in better realisation, ICICI Securities increased its FY22-23E EBITDA by 5 per cent and raise its target price to Rs 1,120/share (earlier Rs 1,050/share). Key risk includes, lower than expected demand/prices.
ICICI Direct has buy call on JK Lakshmi Cement with a target price of Rs 575. for a time frame of 12 months. The current market price of JK Lakshmi Cement is Rs 525.1.
Emkay Research has a buy call on
Shree Cements with a target price of Rs 32750 for a time frame of 12 months. The current market price of Shree Cements is Rs 26852.25.
Shree Cements Ltd, incorporated in the year 1979, is a Large Cap company with a market cap of Rs 97927.30 Crore, operating in Cement sector.
Shree Cements Ltd's key Products/Revenue Segments include Cement, Power, Clinker, Other Operating Revenue and Scrap for the year ending 31-Mar-2020.
Investment Rationale
Emkay Research maintains its FY22-23 estimates. It has a buy rating with a DCF-derived target price of Rs 32,750 (Jun’22E), implying 19x 1-year forward EV/E. The stock’s premium valuation at current 19.2x EV/E already reflects Emkay's strong outlook on the company, hence it expects the stock’s returns to be driven essentially by earnings compounding. Key downside risk is overseas mergers and acquisition, it added.
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