Antique initiates India's JSW Cement with 'buy', sees it benefiting from slag access
BUZZ-Antique initiates India's JSW Cement with 'buy', sees it benefiting from slag access ** Cement manufacturing company JSW Cement JSWC.NS stands apart from peers due to its long-term access to slag, a by-product generated during steel manufacturing, Antique Stock Broking
** Brokerage initiates with "Buy" rating, sets target price of 140 rupees
** Structural edge cushions earnings against swing in grey cement prices and fuel costs, says brokerage
** JSW Cement "has one of the industry's most aggressive expansion plans providing strong volume growth visibility" - Antique
** But, co's profitability may remain range-bound given sizeable exposure to less profitable South and East markets and upfront costs of entering North and Central regions
** 16 analysts on average rate the stock "Buy", media TP of 148 rupees - data compiled by LSEG
** JSWC DOWN 0.5% at 111.50 rupees; YTD, shares down 6.4%
(Reporting by Saikeerthi in Bengaluru)
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