In an impressive performance, the share price of Ramco Cements began the day at ₹1,038.95, marking a positive trend from the previous close of ₹1,030.15. Reaching the day’s high at ₹1,049.15 (also the 52-week high) and a low of ₹1,019.25, the stock, as of 12:20 hours, showed a marginal decline of 0.84% at ₹1,021.50 on the BSE.
Year-to-date, as of the December 4 closing, the stock has seen a substantial 47% surge, reflecting a commendable recovery from its 52-week low of ₹636.15 on January 30, 2023. Notably, the stock has gained 62% from its lowest point, indicating a robust trajectory.
Analysts view the stock’s fundamentals positively, suggesting the potential for further growth. Anand Rathi Share and Stock Brokers have maintained a buy call on the stock and recently revised the 12-month target price to ₹1,222 from ₹1,007.
The brokerage firm emphasized Ramco Cements’ strategic moves to strengthen its position in the South and East regions through acquisitions, coupled with a focus on green energy, cost-efficient capex, and land monetization to facilitate expansions.
Anand Rathi stated, “We expect 13% volume, 13% revenue, and 27% EBITDA CAGR over FY23-26. We introduce FY26E and retain our buy rating, at a 12-month target price of ₹1,222, 14.5 times FY26E EV/EBITDA.”
Technical analysis by Swastika Investmart’s Senior Technical Analyst, Pravesh Gour, indicated a breakout of cup and handle formations on the weekly chart, with a positive momentum reflected in the RSI and MACD indicators.
Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, highlighted the stock’s consistent higher highs and higher lows since the beginning of 2023, suggesting a well-established bull trend. Patel recommended holding or adding fresh longs with a target of ₹1,200 and a daily closing basis stop-loss at ₹950.
However, Patel cautioned about a bearish alternate bat pattern reversal zone near ₹1,200, advising investors to exercise caution in the ₹1,175–1,200 zone and consider profit booking. Overall, the analysts remain positive about both the short and long-term prospects of Ramco Cements.
