Buy The Ramco Cements, target price Rs 822: ICICI Direct

ICICI Direct has buy call on The Ramco Cements with a target price of Rs 822. The current market price of The Ramco Cements is Rs 797.3. Time period given by analyst is 3 days when The Ramco Cements Ltd. price can reach defined target.

The Ramco Cements Ltd., incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 18784.06 Crore) operating in Cement sector.

The Ramco Cements Ltd. key Products/Revenue Segments include Cement, Dry Mortar Mix, Power, Scrap, Ready Mix Concrete and Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 1785.64 Crore, up 3.65 % from last quarter Total Income of Rs 1722.68 Crore and up 44.00 % from last year same quarter Total Income of Rs 1239.99 Crore. Company reported net profit after tax of Rs 113.27 Crore in latest quarter.

Investment Rationale
The brokerage expects it to head towards (Rs 822 being April 2022 high and measuring implication of the last 3 weeks range breakout (778-725)

Promoter/FII Holdings
Promoters held 42.33 per cent stake in the company as of 30-Jun-2022, while FIIs owned 6.86 per cent, DIIs 33.39 per cent.