Mid-term Pick: Sarda Energy & Minerals
Stabilisation of pellet plant in this quarter would help it save about Rs 2,000/t on iron ore costs and boost margin.
By ET Bureau |
MARKET PRICE: Rs 184
Target price: Rs 290
Stabilisation of pellet plant in this quarter would help it save about Rs 2,000/t on iron ore costs and boost margin. Anti-Naxal operations at Chhattisgarh, Orissa, etc. would enable it to restart captive iron ore mines at Rajnandgaon, Chhattisgarh helping it reduce high iron ore costs.
Besides, firm ferro alloy prices coupled with low-cost raw material inventory would boost its profits in the next two quarters.
Target price: Rs 290
Stabilisation of pellet plant in this quarter would help it save about Rs 2,000/t on iron ore costs and boost margin. Anti-Naxal operations at Chhattisgarh, Orissa, etc. would enable it to restart captive iron ore mines at Rajnandgaon, Chhattisgarh helping it reduce high iron ore costs.
Besides, firm ferro alloy prices coupled with low-cost raw material inventory would boost its profits in the next two quarters.
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