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Buy Dalmia Bharat; target of Rs 2100: Sharekhan

Sharekhan is bullish on Dalmia Bharat has recommended buy rating on the stock with a target price of Rs 2100 in its research report dated September 15, 2022.

September 16, 2022 / 05:21 PM IST
 
 
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Sharekhan's research report on Dalmia Bharat

The average cement prices in East and South increase during September 2022 reversing the decline witnessed in August 2022. It remains on track to achieve a 49 MT cement capacity and 173 MT of renewable energy capacity by FY2024. The company’s long-term cement capacity addition plans to aid in capturing high growth especially in Eastern region. The domestic and international pet coke prices during Q2FY2023 declined by 18% q-o-q and over 20% q-o-q respectively. The positive impact on operational profitability is likely to be seen from Q3FY2022.


Outlook

We maintain a Buy on the stock with a revised PT of Rs. 2,100, rolling forward our valuation multiple to September 2024 TTM earnings.

More Info

At 16:01 hrs Dalmia Bharat was quoting at Rs 1,696.00, down Rs 66.90, or 3.79 percent.

It has touched an intraday high of Rs 1,768.00 and an intraday low of Rs 1,668.00.

It was trading with volumes of 8,750 shares, compared to its thirty day average of 9,727 shares, a decrease of -10.05 percent.

In the previous trading session, the share closed down 0.12 percent or Rs 2.10 at Rs 1,762.90.

The share touched its 52-week high Rs 2,475.00 and 52-week low Rs 1,212.60 on 16 September, 2021 and 20 June, 2022, respectively.

Currently, it is trading 31.47 percent below its 52-week high and 39.86 percent above its 52-week low.

Market capitalisation stands at Rs 31,794.69 crore.

For all recommendations report, click here

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Dalmia Bharat - 160922 - khan

Broker Research
first published: Sep 16, 2022 05:21 pm

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