Buy The Ramco Cements, target price Rs 1010: Motilal Oswal

Motilal Oswal has buy call on The Ramco Cements with a target price of Rs 1010. The current market price of The Ramco Cements Ltd. is Rs 961.45.

The Ramco Cements Ltd., incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 22742.03 Crore) operating in Cement sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1349.58 Crore, up 5.98 % from last quarter Total Income of Rs 1273.47 Crore and up 4.62 % from last year same quarter Total Income of Rs 1290.00 Crore. Company reported net profit after tax of Rs 201.47 Crore in latest quarter.


Investment Rationale
Breakout on weekly frame and stock is set to trade at a new price territory with new highs and volumes.

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.