Hold Shree Cement, target Rs 12000: JM Financial

JM Financial Institutional Securities Limited downgrade Shree Cement to hold from buy post March quarter results with a 12-month target price of Rs 12000, as it believes that current valuations are fully factoring in a strong earnings recovery without paying any heed to potential headwinds.

"Over the medium term, Shree remains one of the best play in the Indian cement space given its ability to execute expansion and deliver growth, cost advantage and strong balance sheet," said the report.