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Why brokerages raised target price for this cement stock despite 38% fall in profit

Updated : July 29, 2020 12:36 PM IST

The stock price of the firm rose over 3.5% in trade today on better than expected Q1 numbers.
CLSA has upgraded the stock to buy from outperform and raised the target to Rs 5,000 per share from Rs 4,160 earlier.
The stock is Citi's top pick in the cement space.
Why brokerages raised target price for this cement stock despite 38% fall in profit

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