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Rajesh Ravi

  • Analysis & Comment

Rajesh Ravi's Comment & Analysis
A complete archive of Rajesh Ravi's articles, including current analysis & comment - Page 2

Ambuja Cement: We maintain our ADD rating on Ambuja Cements (NS:ABUJ) with a revised TP INR 395/share. During Q5FY23 (financial year moved to Mar vs Dec), it reported only 5% QoQ standalone volume...
UltraTech Cement (NS:ULTC): We maintain BUY on UltraTech (UTCEM) with an unchanged target price of INR 8,670 (16x Mar-25E consolidated EBITDA). We continue to like the company for its robust growth...
Shree Cement (NS:SHCM): We maintain our REDUCE rating on Shree Cement (SRCM), with an unchanged SOTP target price of INR 22,600/share. In Q3FY23, Shree reported strong 23% volume growth (low base...
Dalmia Bharat Ltd B (NS:DALB): We maintain our BUY rating on Dalmia Bharat (DALBHARA), with an unchanged TP of INR 2,440/sh (13x its Mar-25E consolidated EBITDA). We continue to like DALBHARA for its...
Dalmia Bharat (NS:DALB): We maintain our BUY rating on Dalmia Bharat (DALBHARA), with an unchanged TP of INR 2,145/sh (13x its Sep-24E consolidated EBITDA). We continue to like DALBHARA for its robust...
ACC (NS:ACC): In a shocker, unitary EBITDA falls to near zero!We maintain BUY on ACC, with a lower TP of INR 2,685/share (13x its Sep-24E consolidated EBITDA). ACC delivered a very poor set of numbers...
JK Cement (NS:JKCE): We downgrade our rating on JK Cement (JKCE) with a revised TP of INR 2,475 (11.5x Mar-24E consolidated EBITDA) on expensive valuations. In Q1FY23, healthy pricing recovery in...
UltraTech Cement (NS:ULTC): We maintain BUY on UltraTech (UTCEM) with an unchanged target price of INR 7,295 (16x Mar’24E consolidated EBITDA). We continue to like the company for its strong...
JK Lakshmi Cement Ltd (NS:JKLC): We maintain our REDUCE rating on JK Cement (JKCE), with a lower TP of INR 2,485 (11.5x Mar-23E consolidated EBITDA). In Q4FY22, while grey cement volume picked up QoQ,...
Kajaria Ceramics (NS:KAJR): We maintain our BUY rating on Kajaria Ceramics (KJC), with a revised target price of INR 1,420/share (21x its Mar’24E consolidated EBITDA). We continue to like KJC...