Cement companies have received fresh coverage from JM Financial and top players like ACC Ltd., Ambuja Cements Ltd., UltraTech Cement Ltd. and Dalmia Bharat Ltd. are seen having potential upsides to their stock prices.

Emkay Global is bullish on oil and gas companies even as it expects fuel marketing margins to decline if crude prices remain elevated, thus impacting current year’s earnings.

NDTV Profit tracks what analysts are saying about various stocks and sectors. Here are the analyst calls to keep an eye out for on Wednesday:

JM Financial Initiates Coverage On Cement

  • Initiate coverage on ACC, Ambuja, Birla Corp, JK Cement, UltraTech with ‘Buy’

  • Initiate coverage on Dalmia Bharat, Ramco Cements, Shree Cement, Star Cement with ‘Hold’.

  • Expect sector to shift focus towards profits with major acquisitions largely completed.

  • Expect cement demand to grow at 7-8% CAGR over two years.

  • Industry’s focus on cost optimisation to help reduce cyclicality.

  • Investors to look beyond short-term cement price changes.

  • Investors to focus on structural changes that could drive long-term profits.

  • Expect coverage to report Ebitda CAGR over 25% over two years.

  • ACC: Initiated with Buy; target price of Rs 2,550, implying 31% upside.

  • Ambuja Cements: Initiated with Buy; target price of Rs 685, implying 32.8% upside.

  • Birla Corp: Initiated with Buy; target price of Rs 1,550, implying 31.8% upside.

  • Dalmia Bharat: Initiated with Hold; target price of Rs 1,825, implying 5.5% upside.

  • JK Cement: Initiated with Buy; target price of Rs 5,300, implying 20.8% upside.

  • Ramco Cement: Initiated with Hold; target price of Rs 915, implying 3.4% upside.

  • Shree Cement: Initiated with Hold; target price of Rs 26,850, implying 6.1% upside.

  • Star Cement: Initiated with Hold; target price of Rs 215, implying 7.4% upside.

  • UltraTech Cement: Initiated with Buy; target price of Rs 13,000, implying 24% upside.

Emkay On Oil & Gas

  • Crude oil prices have gained 10% over last fortnight.

  • Expect near-term volatility in oil prices on geo-political uncertainties, OPEC+ decisions.

  • Expect Brent prices to move within $70$-80 per barrel range.

  • Petrol and diesel marketing margins down to Rs 8/2.5 per litre versus Rs 10/6 before.

  • Expect retail fuel prices to remain unchanged in near term.

  • Fiscal 2025 OMC earnings see downside risk if brent remains at $80.

  • BPCL is fundamentally the strongest, HPCL’s Vizag expansion to help company.

  • IOCL has underperformed peers but has higher inventory risk.

  • Maintain Buy on ONGC with a target price of Rs 330, implying 27% upside.

  • Maintain Buy on Oil India with a target price of Rs 665, implying 43% upside.

  • Maintain Buy on IOCL with a target price of Rs 185, implying 46% upside.

  • Maintain Buy on BPCL with a target price of Rs 405, implying 50% upside.

  • Maintain Buy on HPCL with a target price of Rs 475, implying 27% upside.

Ambit On BSE

  • Initiate ‘Buy’ with target price of Rs 7,000

  • Premium growth has multiple drivers beyond penetration.

  • On the road to a more fragmented market.

  • Regulatory headwinds the villain in the penetration story.

  • BSE’s turnaround opportunity could offset near-term headwinds.

  • BSE has room to expand margins despite the tech spend.

  • BSE StAR is a cash cow in the making.

Emkay On Dixon Tech

  • Coverage with ‘Buy’ and target price at Rs 20,000, implying 23% upside.

  • Multiple mid-to-long term growth drivers yet to be baked-in.

  • Rising smartphone assembly opportunity to add 70-75% incremental share for Dixon Tech.

  • Opportunity in IT hardware to help company.

  • Backward integration intent to help sharp margin improvement.

  • Stock does not price in potential for Rs 4 lakh crore industrial PCBs and auto electronics market by fiscal 2035.

  • Expect sales and EPS to grow at 20% and 40% CAGR over ten years.

  • Company’s robust prospects justify the premium valuation.

Citi On HDFC AMC

  • Retain ‘Sell’ with a target price of Rs 3,700 (revised from Rs 3,600), implying a downside of 5.2%.

  • Core earnings remain robust despite sluggish equity mark-to-market (MTM).

  • Key drivers include stringent cost controls and the full impact of back book repricing.

  • Performance reflects strength in higher buckets.

  • Marginal volatility observed in early buckets; incremental flows remain monitorable.

  • Retain estimates as lower average AUM forecasts are offset by favorable yields.

. Read more on Markets by NDTV Profit.Emkay Global, Citi and JM Financial share their calls on various stocks on Wednesday.  Read MoreMarkets, Business 

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