Result Update on Associated Stone
Recommended @ Rs 80, stock had risen to Rs 126, providing more than 50% appreciation in less than 3 weeks. A Stone has reported much better financials for Q1/FY16:
Sales have increased by 45% to 42 crores. Despite big rise in interest cost (borrowings for financial Dubai acquisition), PAT has jumped by 140%. Impact of Dubai mines will start accruing from Q2 onwards.
Co has announced stock split 5:1.
Investors may continue to hold. We estimate that under normal market conditions, stock can rise to Rs 175-225 in next 12-15 months.
In fact, A Stone will stand to benefit immensely if govt succeeds in implementing its initiatives of affordable housing and smart cities
Recommended @ Rs 80, stock had risen to Rs 126, providing more than 50% appreciation in less than 3 weeks. A Stone has reported much better financials for Q1/FY16:
Sales have increased by 45% to 42 crores. Despite big rise in interest cost (borrowings for financial Dubai acquisition), PAT has jumped by 140%. Impact of Dubai mines will start accruing from Q2 onwards.
Co has announced stock split 5:1.
Investors may continue to hold. We estimate that under normal market conditions, stock can rise to Rs 175-225 in next 12-15 months.
In fact, A Stone will stand to benefit immensely if govt succeeds in implementing its initiatives of affordable housing and smart cities
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