We recommend buy of MLCF as its fair value is Rs. 16 on the basis of the followings:
1) Local Demand expected to grow 30% YOY Basis
2) Infrastructure Development programs
3) Housing and Dams Constructions
4) Export to Middle East, India and South Africa
5) Rs. 320/Bag rate in Local Market and also increasing due to inrease in production cost as Fuel, Coal and Power is of 65% of Production Cost of Cement.
If you have any query please email me at stockmarketpk@gmail.com or leave comments here.
Muhammad Ijaz
Monday, June 30, 2008
"FAIR VALUE OF MAPLE LEAF CEMENT - MLCF RS. 16"
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