SMALL CAP
ICICI Securities & PINC
JK CEMENT CMP: Rs 59
JK Cement’s 3 mt greenfield plant at Karnataka is likely to be commissioned in Q1FY10, which will increase grey cement capacity by 68% to 7.4 mt. Also, with softening interest rates, a sharp decline in pet coke prices and firming up of cement prices in key markets, the macroeconomic conditions of JK Cement have improved significantly.
MANGALAM CEMENT CMP: Rs 81
MCL recently made an entry in the western market by tapping Pune in Maharashtra. It caters to the northern part of the country. The capacity addition of 0.5mn tonne following modification and upgradation was completed in September 2008 and the full impact of the same is expected to be realized from Q4FY09.
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