India's J K Cement earnings likely to outperform peers, Antique Stock Broking says

India Cements

20/03/2024 06:19

** Earnings of India's J K Cement  JKCE.NS  likely to
outperform peers on higher volume growth - Antique Stock Broking
    ** Brokerage expects JKCE's volume CAGR of ~13% over FY19-24
led by accelerated ramp-up of capacities vs ~5% volume CAGR for
the industry
    ** Company aims to more than double capacity to ~50 mtpa by
2030-31, implying near double-digit volume CAGR in medium term -
brokerage
    ** Brokerage retains "buy" rating, PT at 4,500 Indian
rupees; adds company remains top pick among mid-caps
    ** Avg recommendation of 20 analysts is "buy", median PT
4,456.50 rupees - LSEG
    ** UltraTech Cement  ULTC.NS , ACC  ACC.NS , Ambuja Cements
 ABUJ.NS  also rated "buy"; Shree Cement  SHCM.NS , Ramco
Cements  TRCE.NS  "hold", India Cements  ICMN.NS  "sell"
    ** JKCE up 6% YTD vs Nifty mid-cap index's  .NIFSMCP100  1%
decline

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607))