Buy Ramco Cements, target price Rs 1090: Yes Securities

Yes Securities has buy call on Ramco Cements with a target price of Rs 1090. The current market price of The Ramco Cements is Rs 1028.2. Time period given by analyst is Intra Day when Ramco Cements price can reach defined target.
The Ramco Cements Ltd., incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 24174.00 Crore) operating in Cement sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 1641.53 Crore, up 21.63 % from last quarter Total Income of Rs 1349.58 Crore and up 16.93 % from last year same quarter Total Income of Rs 1403.90 Crore. Company reported net profit after tax of Rs 212.27 Crore in latest quarter.

Investment Rationale
After witnessing a positive breakout through the recent consolidation, the stock revisited the breakout zone and since then is holding support of Rs 1,000. Positive follow up action could attract positive momentum, lifting stock towards the Rs 1,100 zone.


Promoter/FII Holdings
Promoters held 42.7 per cent stake in the company as of June 30, 2020, while FIIs held 8.9 per cent, DIIs 24.5 per cent and public and others 24 per cent.