/Buy Star Cement, target price Rs 106: Yes Securities

Buy Star Cement, target price Rs 106: Yes Securities

Yes Securities has buy call on with a target price of Rs 106. The current market price of Star Cement Ltd. is Rs 97.65.

Star Cement Ltd., incorporated in the year 2001, is a Mid Cap company (having a market cap of Rs 4029.43 Crore) operating in Cement sector.

For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 430.88 Crore, up 5.48 % from last quarter Total Income of Rs 408.48 Crore and down -5.85 % from last year same quarter Total Income of Rs 457.67 Crore. Company reported net profit after tax of Rs .08 Crore in latest quarter.

Investment Rationale
After correcting ~19% from the March peak, the stock is forming higher lows. Positive follow-up action above Rs 98 could attract some buying interest.

Promoter/FII Holdings
Promoters held 66.8 per cent stake in the company as of June 30, 2020, while FIIs held 0.2 per cent, DIIs 7.5 per cent and public and others 25.5 per cent.

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