The global research firm has upgraded the stock to buy and has raised the target price to Rs 1,900 from Rs 1,650 per share adding that the company has large capacity addition in its pipeline.
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//$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); 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Dalmia Bharat share price jumped 7 percent intraday on March 17 after CLSA upgraded the stock to buy and raised the target price to Rs 1,900 from Rs 1,650 per share.
The research firm is of the view that the company has large capacity addition in its pipeline adding that it has presence in strong growth regions, according to a CNBC-TV18 report.
“At current valuations, Dalmia Bharat is well-placed in this upcycle,” it added.
The stock was trading at Rs 1,623.45, up Rs 103.10, or 6.78 percent at 10:10 hours. It has touched a 52-week high of Rs 1,690.60. It has touched an intraday high of Rs 1,690.60 and an intraday low of Rs 1,580.05.
The cement maker reported multi-fold jump in its consolidated net profit to Rs 183 crore for the third quarter ended December 2020, helped by sales volume growth and increase in margins.
The company had posted a net profit of Rs 26 crore during the corresponding quarter of last fiscal, Dalmia Bharat said in a regulatory filing.
Its revenue from operations during October-December 2020 rose 18.16 percent to Rs 2,857 crore against Rs 2,418 crore in the year-ago period.
According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: price above short, medium and long term moving averages. It has zero promoter pledge with low debt.
Moneycontrol technical rating is very bullish with moving averages and technical indicators being being bullish.
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