Ramco Cement shares have been in the consolidation phase for almost a year now as the stock has lost over 15 per cent in the past one year. It has also been in the heat of sell-off year after year. However, in the past one month, the share price of Ramco Cement has given some sharp jump to deliver around 9 per cent return to its shareholders in this period. According to the report of Anand Rathi, the stock is on strong support and can buy this stock for the target of 3 months 997, about 25 percent more than its current price 805 each level.
As per the research report shared by the brokerage firm, Shares of Ramco Cement The chart pattern shows that the stock made a turnaround from these levels and climbed higher 1100 levels. The daily chart of the stock is showing a bullish BAT pattern which looks attractive from a positional investment perspective.
On its suggestions to the stock exchange investors in relation to the shares of Ramco Cement; Ramco Cement shares can be bought while maintaining stop loss, says Anand Rathi report 697 each level. Brokerage says it may go up in next 3 months 997 each level.
Ramco Cements Limited is the flagship company of Ramco Group, a well-known business conglomerate in South India. It is the fifth largest cement producer in the country. The company’s main product is Portland Cement, manufactured in eight state-of-the-art production facilities, including integrated cement plants and grinding units with a current total production capacity of 16.45 MTPA (out of which satellite grinding units alone have a capacity of 4 MTPA). Ready Mix also produces concrete and dry mortar products, and operates one of the largest wind farms in the country.
The current trading volume of Ramco Cement shares is 2,92,754 as against its last 20 days average volume of 5,25,909. Its current market capital is . slightly higher than 19,050 crores and its book value per share is around 242.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.