Emkay Global Financial has given Hold recommendation for JK Cement with a target price of Rs. 3150 in its research report issued on Mar 06, 2022

Emkay Global Financial’s report on JK Cement

JK Cement (JKCE)’s board has approved the company’s entry into the paint business through a wholly owned subsidiary (WOS). The WOS would undertake manufacturing, selling, trading, importing & exporting, and otherwise dealing in all types of paints and allied products and services. The creation of a WOS should enable a singular focus on the paint business.

Outlook

We have a Hold rating on the stock with a TP of Rs3,150. We have not incorporated the paints business into our estimates.

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