Buy The Ramco Cements, target price Rs 795: Yes Securities

Yes Securities has buy call on The Ramco Cements with a target price of Rs 795. The current market price of The Ramco Cements is Rs 731.15. Yes Securities recommended to keep stop loss at Rs 700.

The Ramco Cements, incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 17329.68 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 30-09-2022, the company has reported a Consolidated Total Income of Rs 1800.61 Crore, up .84 % from last quarter Total Income of Rs 1785.64 Crore and up 19.22 % from last year same quarter Total Income of Rs 1510.33 Crore. Company has reported net profit after tax of Rs 12.22 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 Ramakrishna Raja & Co. as its auditors. As on 30-09-2022, the company has a total of 24 Crore shares outstanding.

Investment Rationale
The stock is attempting to surpass downward sloping trendline. The brokerage expects strength to continue in this stock.

Promoter/FII Holdings
Promoters held 42.3 per cent stake in the company as of 30-Sep-2022, while FIIs owned 6.86 per cent, DIIs 33.75 per cent.