Geojit has given Accumulate recommendation for Dalmia Bharat with a target price of Rs. 1620 in its research report issued on May 16, 2022
Geojit’s research report on Dalmia Bharat
Dalmia Bharat Ltd (DBL) is the fourth largest cement company in India with a capacity of ~35.9MT; focusing in South with 12.1MT and East & North-East with 20.8MT and West with 2.9MT.
We revise our Target to Rs.1,620 (Rs. 2,200 earlier) factoring the margin pressure in the short-term, but maintain Accumulate rating considering recent correction in price.