INSUBCONTINENT EXCLUSIVE:
Good morning!
The domestic stock market on Wednesday showed early signs of a possible breakout from its consolidation range
Bharatwith a target price of Rs 1,245
The brokerage said it is positive on Dalmia for its strong cost control, which boosts margin despite weak pricing
Also, its balance sheet remains stable, even as it scales up capacity to become third-largest in India
Robust internal accruals should lead to continued debt reduction despite ongoing expansions, it added
Centrum said Mahanagar Gas will fall short of achieving its volume growth guidance of 5-6 per cent at least over next one year
Hence, the brokerage has trimmed its volume growth assumptions for FY21 from 5.9 per cent to 5 per cent
The brokerage cut the earnings estimate for Bharat Forge for next year on the back of weak performance and moderate growth recovery
The brokerage said while the externalities have impacted results, the company has made progress in new product introductions, customer
acquisition and new technology, which bodes well for long-term growth
The brokerage estimates that except the capacity at Wadi, Karnataka, ACC is operating at peak clinker capacity utilisation
It is estimated that eastern and central Uttar Pradesh are the most profitable markets for ACC followed by Punjab, Maharashtra and Karnataka
and capacities coming up in these regions are not estimated to have any material adverse impact
Shares of ACC closed at Rs 1,438, down 0.9 per cent.