
Nomura has reiterated its ‘Reduce’ rating on Dalmia Bharat, with a revised target price of ₹1,680. This reflects a potential downside of 5.3% from the current market price (CMP) of ₹1,774.95.
The brokerage flagged an EBITDA miss due to disappointing volumes, coupled with a loss of market share in the southern region amid heightened competitive intensity. Fuel consumption costs declined 5% quarter-on-quarter to $96/tonne, a key operational metric.
Nomura highlights that the next stage of expansion will be a critical factor to monitor in Dalmia Bharat’s growth trajectory.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
(Data as on 7:55AM, January 22, 2025)