Shree Cement share price hits 52-week high, surges 4% after Nomura upgrades stock to ‘buy’; Do you own?

Shree Cement share price hit 52-week high, surging over 4 per cent to ₹31,215 on Friday's trading session after brokerage firm Nomura upgraded the stock to ‘buy’ from ‘neutral’ rating.

Shree Cement stock has gained nearly 5.34 per cent in past five trading sessions and has risen over 12.67 per cent in over a month.

The brokerage has increased its target price for the cement major from ₹28,000 to ₹34,000. In the previous session, the stock closed at ₹30,451.95 per share.

Nomua's view on Shree Cement stock

Nomura stated in its note that the recent rebound in Shree Cement's key markets, along with increased utilization, is expected to drive market share growth for the company.

Consequently, the brokerage has revised its volume estimates for Shree Cement, increasing its projections for the financial years 2026 and 2027 by 5 per cent and 7 per cent, respectively, to 41 million tonnes and 46 million tonnes.

According to Nomura, the rise in volume estimates is driven by Shree Cement's enhanced utilization in northern and eastern India, which together account for over 80 per cent of its total volume. The firm also noted that both regions have maintained strong pricing, with a 4 per cent sequential increase, compared to the nationwide average of 2 per cent.

Nomura has raised its EBITDA estimates for Shree Cement for the financial years 2026 and 2027 by 9 per cent and 15 per cent, projecting ₹4,900 crore and ₹6,500 crore, respectively.

Shree Cement shares have increased by 19.57 per cent over the past year, rising 9.57 per cent in the last month and 8.3 per cent in the past week.

Shree Cement Q3 results highlights

Shree Cement’s profit for the December quarter dropped 69 per cent year-on-year to ₹229 crore, primarily due to lower operational revenue. Although power and fuel costs declined by over 27 per cent compared to the previous year, the benefit was negated by weak cement prices.

As the country’s third-largest cement producer, Shree Cement sold 8.77 million tonnes during the quarter, slightly lower than 8.89 million tonnes in the same period last year.

Net operational revenue fell 13 per cent to ₹4,235 crore, while EBITDA stood at ₹947 crore, marking a 23 per cent decline from ₹1,234 crore a year earlier.

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