Sharekhan has given Buy recommendation for Shree Cement with a target price of Rs. 31,610 in its research report issued on Feb 19, 2021

Sharekhan’s research report on Shree Cement

Shree Cement is expected to benefit from strong cement pricing environment in north and high cement demand in east. Expect to continue to report industry-leading volume growth, driven by its presence in key regional markets viz. north and east. Capacity expansion plans to reach 57 mtpa over three years and 80 mtpa over six-seven years would provide sustainable long-term growth.

Outlook

We retain our Buy rating on Shree Cement Limited (Shree Cement) with a revised PT of Rs. 31,610, as we expect it to report industry-leading growth led by rising capacity utilisation.