0735 GMT - Nuvoco Vista's long-term business growth trajectory looks intact, HDFC Securities analysts say in a research report, noting that the building materials company recently unveiled a low-cost acquisition of Vadraj Cements in India's Gujarat. Given its total capital expenditure of INR30 billion over FY 2026-2027, Nuvoco Vista expects to start production from Vadraj Cements' plants by 3Q FY 2027, thereby boosting its consolidated capacity to 31 million metric tons. This acquisition ensures its sales volume growth visibility beyond FY 2027, enhances regional sales mix and alleviates concerns over Nuvoco Vista being an acquisition target, the analysts add. HDFC maintains a buy rating on the stock, with a target price of INR420.00.Shares are 0.1% lower at INR354.85. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 08, 2025 02:35 ET (07:35 GMT)
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