Axis Securities advises buying Orient Cement shares now

Axis Securities has advised investors to buy shares of Orient Cement, setting a target price of Rs 389. Currently, the stock is priced at Rs 346.65. Analysts believe that the stock is on a strong upward trend and will likely reach the target within 3 to 4 weeks. Orient Cement, established in 2011, is classified as a Small Cap company with a market capitalization of Rs 7,127.57 crore. Its operations focus on cement production, as well as scrap and power segments for the financial year ending March 31, 2024. In the most recent quarter, which ended on December 31, 2024, Orient Cement reported a total income of Rs 645.87 crore. This figure reflects a 17.94% increase from the previous quarter but shows a decline of 14.25% compared to the same period last year. The company also posted a net profit of Rs 10.14 crore. The analysis of the stock indicates a promising outlook. It has successfully broken through several resistance levels around Rs 346 and is trading above its key moving averages. The stock shows signs of higher highs and higher lows, suggesting a continuing positive trend. As of December 31, 2024, promoters own 37.86% of Orient Cement shares. Foreign institutional investors hold 6.76%, while domestic institutional investors own 15.71%. The auditing firm for the company is S R Batliboi & Co. LLP.