Anand Rathi sees 25% upside in this cement stock in 3 months. Do you own?
1 min read 20 Apr 2022, 01:46 PM ISTRamco Cement shares' chart pattern suggests that the stock had given turnaround from these levels and had climbed up to ₹1100 levels, says Anand Rathi report
PremiumRamco Cement shares have remained in consolidation phase for near one year as the stock shed more than 15 per cent in last one year. It has remained under sell-off heat in year-to-date time as well. However, in last one month, Ramco Cement share price has given some sharp upside bounce delivering around 9 per cent return to its shareholders in this period. According to Anand Rathi report, the stock is at strong support and one can buy this stock for 3 months target of ₹997, around 25 per cent higher from its current price of ₹805 apiece levels.
As per the research report shared by the brokerage firm, Ramco Cement shares' chart pattern suggests that the stock had given turnaround from these levels and had climbed up to ₹1100 levels. The daily chart of the stock is showing bullish BAT pattern that looks lucrative from positional investment perspective.
On its suggestion to stock market investors in regard to Ramco Cement shares; Anand Rathi report says that one can buy and go long in Ramco Cement stocks maintaining stop loss at ₹697 apiece levels. The brokerage says that in next 3 months, it may go up to ₹997 apiece levels.
The Ramco Cements Limited is the flagship company of the Ramco Group, a well-known business group of South India. It is the fifth largest cement producer in the country. The main product of the company is Portland cement, manufactured in eight state-of-the art production facilities that includes Integrated Cement plants and Grinding units with a current total production capacity of 16.45 MTPA (out of which Satellite Grinding units capacity alone is 4 MTPA). The company also produces Ready Mix Concrete and Dry Mortar products, and operates one of the largest wind farms in the country.
Current trade volume of Ramco Cement shares is 2,92,754 whereas its last 20 days average volume is 5,25,909. Its current market capital is little higher than ₹19,050 crore and its book value per share is around 242.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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