Investec Cautious on Cement Sector, Recommends 'Buy' for UltraTech, Ambuja, JSW, JK Cement
CCNBC TV18•27-02-2026, 12:08
Investec Cautious on Cement Sector, Recommends 'Buy' for UltraTech, Ambuja, JSW, JK Cement
- •Investec maintains a cautious view on the cement sector despite reiterating select stock preferences.
- •Brokerage firm recommends 'Buy' ratings for UltraTech Cement, Ambuja Cements, JSW Cement, and JK Cement.
- •Most cement manufacturers reported weaker operating performance with declining EBITDA per tonne, except UltraTech and JK Cement due to one-off reversals.
- •Investec expects sequential improvement in spreads for the March quarter driven by modest price hikes and operating leverage, partially offset by rising fuel costs.
- •Sector spreads likely peaked in Q1FY26 and may not see sustained expansion; leading players focus on brownfield expansion for better returns.
