Last Updated : Jun 26, 2020 06:19 PM IST | Source: Moneycontrol.com

Buy Deccan Cements; target of Rs 370: HDFC Securities

HDFC Securities is bullish on Deccan Cements has recommended buy rating on the stock with a target price of Rs 370 in its research report dated June 26, 2020.

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HDFC Securities' research report on Deccan Cements

However, DECM executed two major cost reduction infrastructures. It commissioned railway wagon and truck loaders in FY20 and its 6MW WHRS is also near completion. These will lower its material handling and power costs FY21 onwards, boosting margin.

Outlook

We maintain BUY on Deccan Cement (DECM) with a TP of Rs 370. Weak demand and volatile pricing in south pulled down DECM’s profitability during both 4Q and FY20.

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