Cement stocks UltraTech, Shree Cement get another upgrade; CLSA raises targets
Published on 17/09/2025 10:54 AM
Cement stocks UltraTech, Shree Cement get another upgrade; CLSA raises targetsCLSA said it is more constructive as it sees an uptick in profitability for the cement companies with their estimated upgrades, helped by pricing discipline and the elimination of coal cess.By Shloka Badkar September 17, 2025, 10:54:07 AM IST (Published)2 Min ReadCement stocks led by UltraTech Cement Ltd. and Shree Cement Ltd., continued to trade with gains on Wednesday, September 17, as brokerage firm CLSA upgraded its rating on three companies and maintained its coverage on two.
CLSA upgraded UltraTech Cement to "high conviction outperform" from "accumulate" and raised its price by 8.9% to ₹14,700 per share from ₹13,500 apiece. This implies an upside potential of 16.9% from Tuesday's closing price.
The brokerage has also upgraded Shree Cement to "outperform" from "hold" and raised its target price by 5% to ₹33,500 per share from ₹31,900 apiece. This implies an upside of 13.3% from its last close.
Ramco Cements has been upgraded "hold" from "reduce" with a target price of ₹1,045 per share, which is near its previous close of ₹1,040 apiece.
CLSA maintained its "outperform" ratings on Ambuja Cements and Dalmia Bharat with price targets of ₹670 per share and ₹2,650 apiece, an upside of 16.8% and 9.1% from their previous closing price, respectively.
CLSA said it is more constructive on these cement stock as it sees an uptick in their profitability, resulting in an upgrade to their estimates. This will be, helped by pricing discipline and the elimination of coal cess.
The brokerage said UltraTech Cement is the best placed to benefit due to its cost savings initiatives and organic capacity expansion.
On Tuesday, brokerage firm HSBC raised its price target on five cement stocks by up to 45%, with UltraTech Cement being its top pick.
CompanyBuyHoldSellUltraTech Cement3844Shree Cement18189Ramco Cements131112Ambuja Cements3673Dalmia Bharat2299
The five cement stocks were trading 0.8% to 3.3% higher around 10.10 am on Wednesday.
Also Read: Gujarat Fluorochemicals shares fall after equity worth ₹500 crore changes handsContinue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsAmbuja CementscementDalmia BharatRamco Cementsshare market todayShree CementsUltraTech Cement