HSBC raises share price target on five cement stocks by up to 45% — Check its top pick
Published on 16/09/2025 10:00 AM
HSBC raises share price target on five cement stocks by up to 45% — Check its top pickUltraTech Cement is HSBC's preferred pick and the brokerage has raised its price target on India's largest cement company to ₹15,410 apiece from ₹12,100 per share earlier.By Shloka Badkar September 16, 2025, 10:00:18 AM IST (Updated)2 Min ReadBrokerage firm HSBC has upgraded its recommendations on two cement stocks Ambuja Cements and Shree Cement in its latest note on Tuesday, September 16, while highlighting that India's largest cement company, UltraTech, remains its preferred pick within the space.
HSBC has upgraded its rating on Ambuja Cements to "buy" from "hold" and raised its price target by 43% to ₹700 per share from the previous ₹490 apiece. It also upgraded its rating on Shree Cement to "hold" from "reduce" with a price target of ₹32,200 apiece from ₹22,000 earlier.
It has maintained its "buy" rating on Dalmia Bharat but raised its target price by 45% to ₹2,900 from ₹2,000. It has a "hold" rating on ACC Ltd. with a revised price target of ₹2,040 from ₹2,100 earlier.
CompanyTarget price (₹)Upside (%)Ambuja Cements700 From 49022.7Shree Cement32,200 From 22,0009.9Dalmia Bharat2,900 From 2,00020.2ACC2,040 From 2,1009.7UltraTech Cement15,410 From 12,10024.1
However, UltraTech Cement is HSBC's preferred pick, and the brokerage has raised its price target on India's largest cement company to ₹15,410 apiece from ₹12,100 per share earlier.
CompanyBuySellHoldAmbuja Cements3673Shree Cement1799Dalmia Bharat2299ACC25116UltraTech Cement3844
HSBC wrote in its note that there is increased consolidation within the industry as the top four players now command 57% of the total market share. This, along with leverage at smaller companies is positive for pricing, HSBC wrote in its note.
It sees the financial year 2026 as the peak of capacity additions in the current cycle.
Also Read: United Breweries shares at a good entry point, can rise 14%, JPMorgan says
Shares of UltraTech Cement are trading 0.6% higher at ₹12,505, while those of Dalmia Bharat are trading 1.1% higher at ₹2,442.6. ACC shares are up 0.6% at ₹1,871.5.Continue ReadingFirst Published: Sept 16, 2025 9:55 AM ISTCheck 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!TagsACCAmbuja CementAmbuja CementscementDalmia BharatHSBCshare market todayShree CementUltraTech Cement