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Business News/ Markets / Stock Markets/  UltraTech Cement, Dalmia Bharat, Shree Cement shares: Top cement stocks to buy, add, sell
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UltraTech Cement, Dalmia Bharat, Shree Cement shares: Top cement stocks to buy, add, sell

UltraTech Cement, Dalmia Bharat, and JK Lakshmi stocks are among the brokerage's top picks in the cement sector

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

HDFC Securities remains positive about the cement sector as the domestic brokerage expects the margin to further recover in the first quarter of current fiscal FY24 onwards, driven by further fuel cost cool-off and rebound in cement prices.

“We expect the margin to rebound by 170/40 per metric tonnes (MT) Year-on-Year (YoY) in FY24/25, respectively, to 1,000/1,040 per MT," the brokerage said in a research note.

Looking at current fuel trends, the brokerage believes input cost will cool off by 100-150 per MT QoQ in Q1FY24.

"We trim our industry unitary EBITDA estimates for FY23/24/25E by 10-20 per MT each on sub-par cement price increases," the note stated.

The brokerage expects strong volume offtake by UltraTech Cement, Dalmia Bharat, Nuvoco Vistas, Birla Corp, JK Lakshmi and Star Cement QoQ. It expects volume decline QoQ by ACC and Ambuja (Himachal plant shutdown).

UltraTech Cement, Dalmia Bharat, and JK Lakshmi stocks are among the brokerage's top picks 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' ratings on Ambuja Cement, Ramco Cements, Star Cement, Sagar Cements Deccan Cement, and 'Reduce' ratings on Shree Cement, Heidelberg Cement and JK Cement.

Cement stocks to buy, sell, add as recommended by HDFC Securities -

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

The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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ABOUT THE AUTHOR
Meghna Sen
Business journalist tracking markets, companies, economy and crypto for Livemint. She has 6 years of experience with online and print publications. Email: meghnasen08@gmail.com
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Published: 14 Apr 2023, 03:38 PM IST
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