Sharekhan has given Buy recommendation for Dalmia Bharat with a target price of Rs. 2300 in its research report issued on Apr 06, 2022

Sharekhan’s research report on Dalmia Bharat

Average cement prices in the Eastern region are up 10% both y-o-y and q-o-q during Q4FY2022 while cement transported through rail rises 23.5% q-o-q led by strong demand in March 2022. International and domestic petcoke prices and retail diesel prices remained high y-o-y during Q4FY2022. As costs increase, we expect players to further hike prices from April 2022. The company remains on track to achieve 48.5 MT cement capacity by March 2024 and 60 MT by March 2025.

Outlook

We maintain a Buy on Dalmia Bharat with an unchanged PT of Rs. 2,300, considering attractive valuation post recent correction- and strong earnings growth trajectory over the next three years.

More Info

At 14:09 hrs Dalmia Bharat was quoting at Rs 1,590.00, down Rs 5.05, or 0.32 percent.

It has touched an intraday high of Rs 1,613.45 and an intraday low of Rs 1,582.35.

It was trading with volumes of 29,903 shares, compared to its thirty day average of 15,176 shares, an increase of 97.04 percent.

In the previous trading session, the share closed up 0.20 percent or Rs 3.25 at Rs 1,595.05.

The share touched its 52-week high Rs 2,547.20 and 52-week low Rs 1,279.45 on 14 September, 2021 and 08 March, 2022, respectively.

Currently, it is trading 37.58 percent below its 52-week high and 24.27 percent above its 52-week low.

Market capitalisation stands at Rs 29,791.62 crore.

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