ACC
CLSA ON ACC : 20.07.2021
* Upgrade ACC to BUY from Outperform, Target at Rs 2,600/share
• Q221 above estimates on better volume and cost discipline
• Strong volume growth drives top-line beat
* Raise EBITDA 8-9% given strong fundamentals
CS ON ACC : 20.07.2021
* Credit Suisse remains NEUTRAL on ACC, target at Rs 2,450/sh
* Firing On All Cylinders; Reflection Of Sector Strength
* Increase Volumes & Realisation Estimates
• Now Factor In Cement EBITDA/t Of 1,050 Vs *916/1,044 In CY20/Q1
* MAINTAIN NEUTRAL TARGET: 2,450
CLSA ON ACC : 20.07.2021
* CLSA upgrades ACC to BUY, target raised to Rs 2,600/sh from Rs 2,190
* Reported Its Best-ever EBITDA/t Of ₹1,279
• EV/EBITDA It Is Trading At The Higher End Of Its Historical Discount To Sector
* Raise FY21-23 EBITDA Estimate By 8-9%
* UPGRADE BUY TARGET: 2,600 (PREV TGT: 2,190)
