UltraTech Cement, Dalmia Bharat Shares: Top Cement Stocks to Buy, Add, Sell

“we hope so Difference rebound by 170/40 per metric tonne (MT) year-on-year (YoY) in FY24/25 respectively, 1,000 / 1,040 per MT,” the brokerage said in a research note.

Looking at the current fuel trends, the brokerage believes that the cost will come down 100-150 per MT QoQ in Q1 FY24.

“We reduce our Industry Unitary EBITDA estimates for FY23/24/25E 10-20 per metric ton each sub-par cement price increases,” the note said.

The brokerage expects strong volume uptake from UltraTech Cement, Dalmia Bharat, Nuvoco Vistas, Birla Corp, JK Lakshmi and Star Cement QOQ. It expects the decline in QoQ volumes to be driven by ACC and Ambuja (Himachal plant shutdown).

UltraTech Cement, Dalmia Bharat and JK Lakshmi shares Among the top picks of brokerages in the cement sector.

HDFC Securities maintains ‘Buy’ call on UltraTech, ACC, Dalmia Bharat, Nuvoco Vistas, Birla Corp, JK Lakshmi and Orient Cements.

It maintains ‘Add’ rating on Ambuja Cement, Ramco Cements, Star Cement, Sagar Cements Deccan Cement and ‘Reduce’ rating on Shree Cement, Heidelberg Cement and JK Cement.

To buy, sell, add recommended cement stocks by HDFC Securities –

• UltraTech Cem – Buy, Target Price 8,670
• Mr. Chem – Reduce, Target Price 22,600
• Ambuja Chem – Add, Target Price 415
• ACC – Buy, target price 2,445
• Dalmia India – Buy, Target Price 2,350
• Nuvoco Vistas – Buy, Target Price 495
• Ramco Chem – Add, target price 740
• JK Cement Reduce 2,545
• Birla Corp – Buy, target price 1,310
• Heidelberg Chem – Reduce, target price 160
• Star Cement – Add, target price 115
• JK Lakshmi – Buy, target price 865
• Orient Chem – Buy, target price 155
• Sagar Cement – Add, target price 220
• Deccan Chem – Add, target price 455

The views and recommendations given above are of individual analysts or broking companies and not of Mint,