Binani Cement - Daily Stock Picks
Binani Cement is a good stock to buy in the medium to long term. One can easily expect returns of around 25% in one year during normal market conditions. It is currently trading at attractive valuations of 13 PE based on last year earnings and less than 6 PE of forward estimates for FY 2009-2010
- Recommendation: Buy for medium to long term
- CMP: Rs 69
- Target: Rs 85
- Book Value: Rs 23
- EPS: Rs. 14
- Dividend: 21%
Positives
- Binani currently has assets worth of Rs. 2,694 crore.
- Binany has subsidiaries in Dubai, China and expanding rapidly.
- Growth estimates of around 28% in two years.
About the Company
Binani Cement Limited is the flagship subsidiary of Binani Industries Limited (BIL), the Braj Binani Group. It’s a cement manufacturer with turnover of Rs.1960 crores, with subsidiaries in Dubai, China and expanding by the day. Binani Cement has established itself as one of the top companies in the industry in terms of efficiency and performance. What truly sets Binani Cement apart is its clear focus on the core attributes of quality, strength and reliability of the end product which has paid rich dividends and has seen the brand Binani growing in prominence and stature firmly poised to capture the world’s imagination. (Source: Braj Binani Group Web Site)
