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JK Lakshmi Cement Q2FY18: Decent Performance on Better Realisation; BUY - IndiaNotes.com
JK Lakshmi Cement Q2FY18: Decent Performance on Better Realisation; BUY
Reliance Securities | Published: 14 Nov, 2017  | Source : IndiaNotes.com

We continue to like JKLC on the backdrop of the initiatives undertaken to improve operations in Eastern markets by means of WHRS, CPPs, commissioning of conveyor belt. We believe that commissioning of CPP and WHRS is likely to improve Durg plant’s operations. Further, favourable demand scenario in key markets is likely to aid JKLC to register sales volume growth of 12% CAGR over FY17-FY19E. We upgrade our recommendation on the stock to BUY from HOLD with a revised Target Price of Rs500 (9x FY19E EBITDA).


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Reliance Securities, the broking arm of Reliance Capital, is one of the India’s leading retail broking houses, providing customers with access to equities, derivatives, currency, IPOs, mutual funds, bonds, and corporate FDs amongst others. The large array of financial offerings helps customers fulfilling their investment objectives on one platform. Focus on timely & error-free execution represents its core strength. Their best in class research offerings, high degree of compliance with stock exchange regulations, ethical business standards, & strong risk management capabilities; Reliance Securities positions itself amongst strong & innovative brands in the financial services space.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.

 

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