MID CAP
Anagram StockBroking & Emkay Global Financial Services
PRISM CEMENT CMP: Rs 29
We expect another 100 mt of capacity to be added over three years. The company has placed orders for core equipment with F L Smidth & Co AS, Denmark, and Koeppern, Germany, for the brown-field expansion at Satna and has finalised civil, mechanical & other contracts. It has targeted the commissioning of the plant in September 2010.
MADRAS CEMENT CMP: Rs 84
We expect Madras Cement to be the prime beneficiary of 60% drop in global coal prices in the subsequent quarters because it imports 70% of its coal requirements from abroad. We are likely to revise upward our FY2010 earnings estimates to reflect benefits on lower freight & packaging cost, lower coal prices and revised excise duty.
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