Jefferies raises PT on India's JK Cement after sharp margin recovery q/q

J K Cement

28/01/2025 06:41

** Jefferies raises PT on India's JK Cement  JKCE.NS  after
the mid-cap cement maker's Q3 core profit margin jumps 53%
quarter-on-quarter
    ** Brokerage says co has been able to improve premium
product mix to 16%, clocking highest premium mix vs past
    ** Co's adjusted EBITDA or core profit per metric ton at Rs
1040, highest among listed peers who have reported earnings -
Elara
    ** Adds, sequential recovery aided by better prices in North
India and lower maintenance spending
    ** Cement firms have issued positive commentary for upcoming
quarters on price hikes being absorbed by market and improving
demand, after months of downtrend in both 
    ** JKCE largely flat at 4759 rupees on Tuesday; up 13.2% in
the last 12 months 
    ** Stock rated "Buy" on avg by 22 analysts; median PT at
5123 rupees - LSEG data
    
    

 (Reporting by Ananta Agarwal in Bengaluru)
 ((Ananta.Agarwal@thomsonreuters.com))