Macquarie has upgraded Dalmia Bharat to an ‘outperform’ rating from ‘neutral’ and has raised a target price to Rs 1,282. The brokerage house has raised its FY21 and FY22 earnings by 83 percent and 47 percent respectively.
According to Macquarie, the company’s capacity expansion is on track which would mean that Dalmia Bharat will do a 12 percent volume CAGR between FY21 and FY23.
CNBC-TV18’s Nimesh has more details.
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