India's JSW Cement gains after Jefferies starts with 'buy'

JSW Cement

06/10/2025 05:42

** India's JSW Cement JSWC.NS climbs as much as 2.7% to 142.64 rupees

** Jefferies starts coverage with "buy" stock rating and PT of 170 rupees

** Stock last up 0.7% at 139.78 rupees

** The cement maker, despite being a late entrant in the space, has scaled to being among top 10 players with a capacity and volume growth CAGR of 13-17% over FY15-25, says Jefferies

** Adds, JSWC is well positioned for a profitable scale-up as it leverages JSW group synergies for procuring raw materials from group companies JSW Steel JSTL.NS, JSW Energy JSWE.NS and JSW Infra JSWN.NS

** Estimates EBITDA to grow at a CAGR of 35% over FY25-28

** Stock down 4% since listing in mid-August

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))