Buy The Ramco Cements, target price Rs 790: Nuvama Wealth

Nuvama Wealth brokerage has buy call on The Ramco Cements with a target price of Rs 790. The current market price of The Ramco Cements is Rs 744.15. Nuvama Wealth brokerage recommended to keep stop loss at Rs 715.

The Ramco Cements, incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 17591.97 Crore) operating in Cement sector.

The Ramco Cements key Products/Revenue Segments include Cement, Dry Mortar Mix, Power, Scrap, Ready Mix Concrete and Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 2020.37 Crore, up 12.20 % from last quarter Total Income of Rs 1800.61 Crore and up 29.62 % from last year same quarter Total Income of Rs 1558.69 Crore. Company has reported net profit after tax of Rs 65.62 Crore in latest quarter.

The company’s top management includes Mr.P R Venketrama Raja, Mr.R S Agarwal, Mr.M B N Rao, Mr.M M Venkatachalam, Justice(Retd)Chitra Venkataraman, Mr.M F Farooqui, Mr.M S Krishnan. Company has SRSV & Associates as its auditors. As on 31-12-2022, the company has a total of 24 Crore shares outstanding.

Investment Rationale
On the verge of breaking above its bullish poll and flag pattern. Stock is poised for a quick 7-8% rally.

Promoter/FII Holdings
Promoters held 42.3 per cent stake in the company as of 31-Dec-2022, while FIIs owned 7.14 per cent, DIIs 32.25 per cent.