India's Ramco Cements rebounds on price optimism, TP hikes

Ramco Cements

23/05/2025 05:58

** Shares of India's Ramco Cements TRCE.NS up 1%, reversing course from early 2% drop

** South India-focussed cement maker said prices in the region are improving, after Q4 profit slumped and rev missed  estimates

** Citi raises TP to 1,140 rupees from 1,025 rupees; says that while Q4 disappoints, cement price upsides to look forward to

** "Worst appears to be behind" as south region plays "catch up", Ambit Capital says, hiking TP by 20% to 950 rupees

** Of 29 analysts covering the stock, atleast four raised TPs after results - data compiled by LSEG

** Median TP rises to 920 rupees on the day vs 900 rupees a month back but avg rating remains "hold" - LSEG

** YTD stock up over 3%

 (Reporting by Hritam Mukherjee in Bengaluru)

 ((Hritam.Mukherjee@thomsonreuters.com;))