Buy Shree Cements, target price Rs 25,500: IIFL

Buy Shree Cements, target price Rs 25,500:  IIFL

IIFL has buy call on Shree Cements with a target price of Rs 25,500. The current market price of Shree Cements Ltd. is Rs 24383.6.

Shree Cements Ltd., incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 88758.46 Crore) operating in Cement sector.

For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 3249.93 Crore, up 31.04 % from last quarter Sales of Rs 2480.14 Crore and up 8.17 % from last year same quarter Sales of Rs 3004.45 Crore Company reported net profit after tax of Rs 527.87 Crore in latest quarter.

Investment Rationale
Stock has given a Triangle pattern breakout on the daily chart.

Promoter/FII Holdings
Promoters held 62.6 per cent stake in the company as of June 30, 2020, while FIIs held 13.2 per cent, DIIs 9.9 per cent and public and others 14.3 per cent.

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