Ruchit Jain of Angel Broking has a buy call on ITD Cementation India with a target price of Rs 142.The current market price of ITD Cementation India is Rs 133.30.Time period given by the analyst is two weeks when ITD Cementation India price can reach the defined target.
Ruchit Jain recommended keeping a stop loss at Rs 112."Along with the broader markets, this stock also has corrected sharply since the month of January 2018.
However, the stock now seems to have formed a support base around Rs 100 which coincided with its long-term support.
On Friday, we witnessed a price upmove with increasing volumes and with broader markets showing signs of recovery; we expect this stock to move higher in near-term," said Jain.
ITD Cementation India, incorporated in the year 1978, is a smallcap company (having a market cap of Rs 2,102.68 crore) operating in the construction sector.