Shree Cement - 3QFY17 Result Update - Power Division Mars Performance - Reliance Securities

We continue to believe that sound operating efficiency, diversification into other markets, cost leadership and healthy capacity pipeline without much stress on balance sheet are likely to aid SCL witness strong traction ahead. However, as the current valuations at US$261 / 15.7x of EV per tonne / EV/EBITDA for FY19E look expensive, we downgrade SCL from HOLD to REDUCE with a revised Target Price of Rs13,990.

Shares of SHREE CEMENT LTD. was last trading in BSE at Rs.16019.85 as compared to the previous close of Rs. 15746.8. The total number of shares traded during the day was 880 in over 299 trades.

The stock hit an intraday high of Rs. 16121 and intraday low of 15694.3. The net turnover during the day was Rs. 14067667.

Source : Equity Bulls

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