India's JK Cement rises after brokerage hikes PT

J K Cement

23/09/2024 11:05

** Shares of India's J K Cement  JKCE.NS  rise 3.3% to 4784
rupees 
    ** Brokerage Motilal Oswal hikes PT to 5600 rupees from 5150
rupees earlier, retains "buy" rating on co 
    ** Says cost savings "in focus" for co, and cost structure
has improved 
    ** Says co's long-term capacity target of 50 MTPA by FY30
"in-line" with estimates 
    ** Given co's expansion plans, see net debt to peak out in
FY26 - brokerage
    ** Motilal's TP 15.5% higher than median TP of 4,850 rupees
- LSEG data 
    ** YTD stock has gained ~27% 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))