Morgan Stanley has issued an ‘Underweight’ rating on Dalmia Bharat, setting a target price of ₹1,750, which reflects a potential downside from the current market price of ₹1,841.80. Despite the company reaffirming its medium-term capacity expansion and cost improvement guidance, Morgan Stanley remains cautious due to limited re-rating triggers.
The brokerage acknowledged management’s expectations for cement demand and prices to expand in H2, but expressed concerns over the company’s potential to generate significant stock appreciation in the near term, despite its cheap valuations.
Disclaimer: The information in this article is based on Morgan Stanley’s analysis and does not constitute investment advice. Investors should consult their financial advisors before making any decisions. The author and the publication are not responsible for any losses incurred from actions based on this article.
