Ambuja Cement, UltraTech Are Systematix Top Stock Pick In The Cement Pack — Check Target Price

Most companies posted a double digit growth in volumes, led by Ambuja (16.5%), Ultratech (15.3%), JK Cement (14.3%) and Sagar Cements (11.5%) on the back of a demand rebound. Shree Cement’s volumes declined by 7.2% due to geopolitical tensions in the northern region while Dalmia Bharat(-5.4%) was impacted by the discontinuation of tolling volumes from Jaypee, and Ramco Cements (-6.8%) was hit by the early arrival of monsoon.

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Systematix Report

Despite near term seasonal slowdown, the cement sector is bound to showcase a recovery in the second half of the year led by robust demand in infrastructure, and urban housing, benign input prices and increasing thrust on green power.

As most of the consolidation is over, we foresee a strong revival in prices and a 7-8% volume growth for H2 FY26.

Ultratech Cement and Ambuja Cement remain our top picks within the coverage universe with a target price of Rs 14,481 and Rs 722 respectively.

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