Analysts reiterate "buy" on India's J K Cement after Q4 results, shares rise

J K Cement

29/05/2023 09:23

** Shares of J K Cement Ltd  JKCE.NS  rise as much as 2.98%
to 3097.40 rupees, an over five-month high
    ** Co reported a slide in consolidated net profit, core
profit and core profit margin
    ** Analysts, however, retain bullish view on stock, as
earnings exceed expectations
    ** Jefferies reiterates "buy," citing higher realisations,
strong volume growth and improvement in cash flow
    ** Antique Stock Broking maintains "buy" and raises core
profit estimates for FY24 and FY25
    ** Hikes PT to 3,460 rupees from 3,220 rupees, ~10% over
median PT of 24 analysts as per Refinitiv data 
    ** Adds improvement in profitability in central India region
to be key trigger for co's earnings growth in H2 of FY24
    ** Trading volume is 141,700 shares as of 1:40 p.m. IST, 1.6
times the 30-day avg
    ** Avg rating of analysts slightly weaker than equivalent of
'buy' with median PT of 3,150 rupees

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))