The Economic Times daily newspaper is available online now.

    Hold JK Cement, target price Rs 2800: Emkay Global Financial Services

    Synopsis

    JK Cement Ltd., incorporated in the year 1994, is a Mid Cap company (having a market cap of Rs 23450.91 Crore) operating in Cement sector.

    JK Cement
    Promoters held 45.84 per cent stake in the company as of 30-Sep-2022, while FIIs owned 16.08 per cent, DIIs 21.9 per cent.
    Emkay Global Financial Services has hold call on JK Cement with a target price of Rs 2800. The current market price of JK Cement is Rs 3037.45. Time period given by analyst is 1 year when JK Cement price can reach defined target.

    JK Cement Ltd., incorporated in the year 1994, is a Mid Cap company (having a market cap of Rs 23450.91 Crore) operating in Cement sector.

    Financials
    For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 2249.64 Crore, down -1.65 % from last quarter Total Income of Rs 2287.31 Crore and up 15.78 % from last year same quarter Total Income of Rs 1942.96 Crore. Company has reported net profit after tax of Rs 111.25 Crore in latest quarter.

    The company’s top management includes Mrs.Sushila Devi Singhania, Mr.Saurabh Chandra, Mrs.Deepa Gopalan Wadhwa, Mr.Satish Kumar Kalra, Mr.Sudhir Jalan, Mr.Paul Heinz Hugentobler, Dr.K B Agarwal, Mr.Mudit Aggarwal, Mr.Nidhipati Singhania, Mr.Ajay Narayan Jha, Mr.Ajay Kumar Saraogi, Mr.Madhavkrishna Singhania, Mr.Raghavpat Singhania, Mr.Ashok Sinha. Company has S R Batliboi & Co. LLP as its auditors. As on 30-09-2022, the company has a total of 8 Crore shares outstanding.

    Investment Rationale
    The company's cash-flow generation will support its next leg of growth. Given its increased scale of operations, the brokerage expects the company's OCF to more than double in FY22-25E vs the average. Emkay remains structurally positive on the company. However, it maintains HOLD rating on the stock, as the risk-reward appears balanced post the 15% run up in the stock price in the past one month.

    Promoter/FII Holdings
    Promoters held 45.84 per cent stake in the company as of 30-Sep-2022, while FIIs owned 16.08 per cent, DIIs 21.9 per cent.



    (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in