|
|
|
Centrum Broking gives 'buy' call for JK Lakshmi Cement
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 20 May, 2022
Brokerage house Centrum Broking has given a "buy" call for cement maker JK Lakshmi Cement's stocks.
It pegged a target price of Rs 551, as against current market price of Rs 491.
The
company's subsidiary, Udaipur Cement opted to set up an entire 2.5 mtpa
grinding unit (the earlier plan was a separate 1 mtpa split grinding
unit), along with 1.5 mtpa clinker unit in Udaipur, and it is expected
to be commissioned by FY24.
The company has ordered long delivery equipment.
The
savings on having the entire 2.5 mtpa grinding unit at one place was
more than offset by higher commodity prices and the total estimated
capex at Rs16.5 billion, the brokerage said in a report.
To break it down, the capex is estimated to be Rs 7 billion in FY23 and Rs 9.5 billion in FY24 on the expansion plan.
The
incremental capacity which is expected to be commissioned by FY24 will
provide volume growth for the cement maker from FY25 onwards, it said in
the report.
With a wide network of over 400 cement dumps and
more than 7000 channel partners, JK Lakshmi Cement brand enjoys a
premium position in the market.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|