Buy Shree Cements, target price Rs 23200: Yes Securities

Shree Cements Ltd. key Products/Revenue Segments include Cement, Power, Other Operating Revenue, Traded Goods, Clinker, Scrap for the year ending 31-Mar-2022.

By ETMarkets.com | Sep 30, 2022, 09.20 AM IST

Promoters held 62.55 per cent stake in the company as of 30-Jun-2022, while FIIs owned 11.85 per cent, DIIs 11.22 per cent.

Yes Securities has buy call on Shree Cements Ltd. with a target price of Rs 23200. The current market price of Shree Cements Ltd. is Rs 21489.9.

Shree Cements Ltd., incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 76805.27 Crore) operating in Cement sector.

Shree Cements Ltd. key Products/Revenue Segments include Cement, Power, Other Operating Revenue, Traded Goods, Clinker, Scrap for the year ending 31-Mar-2022.

Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 4394.75 Crore, down -2.37 % from last quarter Total Income of Rs 4501.60 Crore and up 16.39 % from last year same quarter Total Income of Rs 3775.94 Crore. Company reported net profit after tax of Rs 278.86 Crore in latest quarter.

Investment Rationale
After losing 19% off the record high, the stock found renewed buying interest

Promoter/FII Holdings
Promoters held 62.55 per cent stake in the company as of 30-Jun-2022, while FIIs owned 11.85 per cent, DIIs 11.22 per cent.

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