Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel https://t.me/InvestmentGuruIndia
Download Telegram App before Joining the Channel
Post a sluggish opening, the Indian benchmark indices rebounded sharply led by short-covering and positive global cues. The Nifty index ended higher by 6.4% at 8,298 levels. The broader markets too ended with smart gains but continued to underperform the benchmark. On the sector front, all the indices ended higher wherein Banking, Capital Goods and Consumer Durables were the top gainers.
The recent positive announcements from the US Fed and rising hopes of a stimulus package from the Indian government have lifted sentiments. Going forward, we expect volatility would remain high in the near term and any sustainable rally would largely depend upon how effectively we can contain the spread of Coronavirus now with a 21-day nationwide lockdown in place.
Stock In News
* India’s Crude oil production at 2.39 mn tonnes in February was 6.4% lower than 2.56 mn tonnes output in the same month a year back.
* HEG announced that the company has decided to suspend the manufacturing operations with immediate effect at its plant.
* Linde India approved JV with Praxair India private Limited and has entered into an O&M services agreement with Praxair India Private Limited.
Buy The Ramco Cements Ltd. 9-12 Months SL 789 Target 902 CMP 502.65
* The Ramco Cements Ltd (TRCL) reported mixed set of numbers for Q3FY20, wherein revenue growth was tad better while profitability missed our estimates. Its revenue grew by 6%, YoY, led by volume growth of 3.5%. However, the company’s EBITDA and PAT margins declined by167bps and 81bps YoY, due to higher expenditure.
* Ramco cements continue to focus on driving its revenue and margins by improving product mix, increasing utilization levels and expanding capacities. We estimate its Revenue/EBITDA/PAT to grow by 11%/16%/20% CAGR respectively over FY19-22E driven by positive sector outlook, price stabilization per bag, addition in capacity and gain in market share. Hence, we maintain a Buy on the stock with a target price of Rs. 902.
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer http://ex.religareonline.com/disclaimer SEBI Registration number is INZ000174330
Views express by all participants are for information & acadamic purpose only. Kindly read disclaimer before refering below views. Click Here For Disclaimer