Gold Silver Reports (GSR) – Ramco Cements Gains On CLSA Upgrade — Shares of the Chennai-based cement maker rose as much as 3.3 percent to Rs 765 after CLSA upgraded the stock to ‘buy’ from ‘sell’ and raised its target price to Rs 700.
CLSA in a note said:
💗 Channel checks indicate demand pick-up in Tamil Nadu.
💗 Costs have also peaked; Ongoing efforts to drive savings.
💗 Volume growth to improve in next 12-18 months.
💗 Leverage to fall to sub-0.5 times by March 2020.
💗 Ramco Cements is top pick in the sector.
