JSW Cement shares were in focus on Monday after brokerage firm Motilal Oswal Financial Services upgraded its rating on the cement maker to ‘Buy’ from ‘Neutral’, while retaining a target price of Rs 146 per share.
The stock gained nearly 2% during the session, touching an intraday high of Rs 119.75 on the BSE.
In its latest research report, Motilal Oswal said JSW Cement is positioned for sustained medium-term growth, supported by strong volume momentum, its entry into North India and an improving cost structure.
The brokerage expects the stabilisation of the company’s North India plant, along with internal cost-efficiency initiatives covering alternative fuels and raw materials (AFR), renewable power and logistics, to help lower operating costs and support margins.
The brokerage expects the stabilisation of the company’s North India plant, along with internal cost-efficiency initiatives covering alternative fuels and raw materials (AFR), renewable power and logistics, to help lower operating costs and support margins.
North ramp-up strengthens growth outlook,” the brokerage said, highlighting the potential for stronger volumes and efficiency gains to drive a re-rating in the stock.
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