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UBS Upgrades Cement Stocks on Demand Hopes
Business Standard
|March 26, 2025
BS Global Research upgraded multiple Indian cement stocks to "buy" on Monday, citing the sector's risk factors as largely priced in and expecting an earnings upcycle next financial year.
The brokerage upgraded UltraTech Cement (target price: ₹13,000), Dalmia Bharat (target price: ₹2,100), and Ambuja Cement (target price: ₹620), to a "buy" rating while maintaining its "buy" call on ACC (target price: ₹2,250).
Analysts at the research firm noted that they had held a negative view of the sector since July 2023, given the demand slowdown and rising price competition after Adani group's entry. However, these risks have played out, and an earnings upcycle is expected to emerge in 2025-26 (FY26), they said in a note.
Shares of cement companies rose following the rating upgrade from UBS. UltraTech climbed 3.71 per cent to ₹11,461 per share but trimmed gains to close 3.35 per cent higher on Tuesday. Ambuja and ACC advanced 2.75 per cent and 1.79 per cent, respectively. Dalmia's stock rose as much as 2.42 per cent during the session.
Dit verhaal komt uit de March 26, 2025-editie van Business Standard.
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