India's JK Cement hits record high; Motilal Oswal sees volume, earnings growth

J K Cement

27/02/2024 05:53

** Shares of JK Cement  JKCE.NS  rise 3.3% to hit record
high of 4,540.20 rupees apiece
    ** Brokerage Motilal Oswal says achievement of 90% capacity
utilisation from co's Madhya Pradesh plant, within one year of
commissioning, to aid volume growth 
    ** Adds, JKCE's capacity expansion strategy, better regional
mix and rising green energy share to reduce operating costs and
aid earnings 
    ** Brokerage raises JKCE's PT to 5,050 rupees from 4,700
rupees, 15% higher than Monday's close; reiterates "buy" rating
    ** Motilal Oswal's PT is third highest among 21 analysts
covering stock, with median PT of 4,406.50 rupees; the mean
analyst rating is equivalent to "buy" - LSEG data
    ** Stock on course for fifth consecutive session of gains,
if gains hold; up 7.4% over the period 

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