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We had released our re-instating coverage report on Deccan Cements Ltd. with a Buy rating on August 29, 2019 at Rs.357 for a target price of Rs.584 showcasing an upside of ~64%. Subsequently, the target price was reduced to Rs.509 in our Q4 FY20 result update dated July 02, 2020. In our Q4 FY20 Result Update, we had recommended a BUY for the target price of Rs.509 at the then prevailing price of Rs.257 showcasing an upside potential of 98%.

Since then the stock has made a high of Rs.509 in today’s trade. With the recent run-up in the share price, our revised Target Price for the stock is achieved. Thus, we change our rating from BUY to HOLD.

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