Anand Rathi is bullish on NCL Industries has recommended buy rating on the stock with a target price of Rs 136 in its research report dated August 19, 2020.
Anand Rathi 's research report on NCL Industries
Outpacing the industry, NCL’s cement division did well, with the highest EBITDA/ton. Its Boards & RMC divisions, however, suffered on closure of major markets and no progress could be made on the Chinese JV. The Mattampally-plant modernisation and the 8MW WHRS and new solar power agreement will help in cost savings.
Outlook
We retain our Buy rating, with a higher TP of `136 (earlier `108).
For all recommendations report, click here
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