Shree Cements receives buy rating with target price of 28600 rupees

Shree Cements had a lackluster performance in the second quarter due to weak demand and pricing pressures caused by prolonged monsoons and reduced government infrastructure spending.

The company's focus on prioritizing value over volume and reducing fuel consumption costs helped support its performance.

Shree Cements is also benefiting from an increasing share of renewable energy, optimizing logistics, and expanding its capacity, which are seen as positive factors for future growth.

Anand Rathi has maintained a Buy rating on Shree Cements and adjusted the 12-month target price to Rs 28,600 from Rs 28,952.

The latest trading session saw Shree Cements shares priced at Rs 24,017.30, reflecting a 1.46% decline with a trading volume of 28,194.

The stock reached a high of Rs 24,300.20 during the day.

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