Sagar Cements - 3QFY17 Result Update - Better Operating Performance on Healthy Realizations - Reliance Securities

We continue to believe that SCL is moving in the right direction to grow in its key markets with potential of improvement in operating efficiencies by means of WHRS, new Railway Lines & CPPs. However, it will be a challenge for SCL to meet funding needs as it also mulls raising funds via QIP route. We recommend HOLD from BUY with a revised Target Price of Rs750 (6.5x FY19E EBITDA) on the backdrop of recent up-move (13% in a month) and possible dilution.

Shares of SAGAR CEMENTS LTD. was last trading in BSE at Rs.748.3 as compared to the previous close of Rs. 752.1. The total number of shares traded during the day was 3368 in over 244 trades.

The stock hit an intraday high of Rs. 763.85 and intraday low of 730. The net turnover during the day was Rs. 2530765.

Source : Equity Bulls

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