New Year Pick 2023: Buy JK Cement shares - check price target | Stocks To Buy For 2023

Stocks To Buy For 2023, New Year Pick 2023: In a special show, New Year Picks 2023, aired on Zee Business channel on Thursday i.e. December 15 - Siddhartha Khemka - Vice President, Head of Research (Retail), Motilal Oswal Financial Services Ltd - suggested viewers to purchase shares of JK Cement share for better returns in 2023. 

Khemka said that cement companies have increased prices in the last few months because of a recovery in the demand space. 

"Our outlook on cement for 2023 is very positive. While on one hand there is demand recovery in the housing sector, on the other hand, the government is focusing a lot on spending on infrastructure. This is why the demand for cement in coming days will remain strong," he added.

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MOFSL के सिद्धार्थ खेमका का पसंदीदा शेयर JK Cement... क्यों खरीदें?#ZeeBizNewYear #StockMarket #Investment @MotilalOswalLtd @sidd_khemka @AnilSinghvi_ pic.twitter.com/sEe2mpyvFP

— Zee Business (@ZeeBusiness) December 15, 2022

Khemka said that JK Cement is increasing its capacity every year and it has plans to achieve the target of grey cement capacity in the coming years. 

"Buy JK Cement with one year target of Rs 3,840," Khemka added.

However, the standalone net profit of JK Cement declined by 26.07 per cent to Rs 124.8 crore. This is against Rs 168.8 crore in the year-ago period, the company said in a regulatory filing. The revenue from operations declined by 16.7 per cent to Rs 2,141.8 crore in the quarter under review from Rs 329 crore in the previous quarter, JK Cement said in its regulatory filing.