Mangalam Cement - 3QFY17 Result Update - Robust Volume Growth Aids Performance - Reliance Securities

We continue to maintain our positive stance on MCL on the back of improving operating synergies, improving market-mix and incremental commercial production from Aligarh GU. Further, valuations at US$50/US$46 for FY18E/FY19E look attractive vis-a-vis commanding valuations of other Mid-cap cement companies. We reiterate our BUY recommendation on the stock with Target Price of Rs370, (6x FY19E EBITDA).

Shares of MANGALAM CEMENT LTD. was last trading in BSE at Rs.287.1 as compared to the previous close of Rs. 288.25. The total number of shares traded during the day was 8517 in over 312 trades.

The stock hit an intraday high of Rs. 292 and intraday low of 284.1. The net turnover during the day was Rs. 2444843.

Source : Equity Bulls

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