Sell The Ramco Cements, target Rs 655: Sagar Doshi

Sagar Doshi of Edelweiss Financial Services has a sell call on The Ramco Cements Ltd. with a target price of Rs 655. The current market price of The Ramco Cements Ltd. is Rs 720.55. Time period given by the analyst is Intra Day when The Ramco Cements Ltd. price can reach defined target. Sagar Doshi recommended to keep stoploss at Rs 745. The Ramco Cements Ltd., incorporated in 1957, has a market cap of Rs 16974.48 crore.

The Ramco Cements Ltd. key Products/Revenue Segments include Cement which contributed Rs 5014.51 Crore to Sales Value (97.43 % of Total Sales), Other Operating Revenue which contributed Rs 74.40 Crore to Sales Value (1.44 % of Total Sales), Dry Mortar Mix which contributed Rs 29.72 Crore to Sales Value (0.57 % of Total Sales), Ready Mix Concrete which contributed Rs 15.97 Crore to Sales Value (0.31 % of Total Sales), Scrap which contributed Rs 11.63 Crore to Sales Value (0.22 % of Total Sales) and Clinker which contributed Rs .04 Crore to Sales Value (0.00 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-06-2019, the company has reported a Consolidated sales of Rs 1348.57 Crore, down -11.66 % from last quarter Sales of Rs 1526.51 Crore and up 13.71 % from last year same quarter Sales of Rs 1185.97 Crore Company has reported net profit after tax of Rs 193.22 Crore in latest quarter. The company’s top management includes Justice(Retd)Chitra Venkataraman, Mr.M B N Rao, Mr.M F Farooqui, Mr.M M Venkatachalam, Mr.P R Venketrama Raja, Mr.R S Agarwal. Company has SRSV & Associates as its auditors. As on 30-06-2019, the company has a total of 235,576,780 shares outstanding.