Published on 26/04/2019 12:11:18 PM | Source: Reliance Securities Ltd

Buy Jk Cement Ltd For The Target Rs.985 - Reliance Sec

Posted in Broking Firm Views - Short Term Report| #Cement Sector #JK Cement Ltd #Trading Report #Reliance Securities Ltd

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* J.K. Cement is likely to witness strong traction in its performance in ensuing quarters on account of healthy demand environment in its key markets including Northern region and strong improvement in realisations in Northern region.

* Its value-added products continue to remain cash cow and ensure better return ratios.

* We expect its grey cement business to improve following commissioning of new kiln at Mangrol, which may warrant a further re-rating of the stock.

* Stock currently trades at 10.3x and 8.8x EBITDA of FY20E and FY21E, respectively, which appears to be attractive.

* We maintain our fundamental BUY rating on the stock with a Target Price of Rs985


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