Buy Orient Cement; target of Rs 240: Anand Rathi

Anand Rathi is bullish on Orient Cement has recommended buy rating on the stock with a target price of Rs 240 in its research report dated October 27, 2021.

“India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business,” JM Financial research report.

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Anand Rathi’s research report on Orient Cement

Amid the high-cost milieu and heavy monsoon, Orient’s performance was good with revenue/EBITDA/ PAT growing 28%/18%/63% y/y on a favourable base. While delevering continues, the announced expansion will give volume growth a fillip. Cost optimisation measures, a rake-handling system, the WHRS setup and solar power are positives.

Outlook

We retain our Buy rating, with a higher target of Rs.240 (earlier Rs.220).

For all recommendations report, click here

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