Top Cement Stocks in India 2024: Market Cap, Stock Prices and more

Cement remains a cornerstone of modern construction, crucial for infrastructure and residential projects alike. Despite the rise of alternative materials, cement’s unparalleled strength and durability keep it indispensable in sectors such as bridges, dams, roads, and urban facilities. The Indian cement sector, a vital component of the nation’s infrastructure growth, has experienced substantial expansion recently.

Cement Industry in India – A Brief Overview

India stands as the world’s second-largest cement producer, contributing over 7% to the global capacity. The industry is pivotal for sectors like infrastructure, construction, housing, transportation, and power generation. It supports key government initiatives, including housing schemes, concrete highways, smart cities, and cleanliness programs.

Approximately 98% of India’s cement production is managed by private companies, with the top 20 companies controlling around 70% of the total output. The industry benefits from abundant high-quality limestone deposits and is projected to grow to 4.83 billion tonnes by 2028, with an expected annual growth rate of 4.94% from 2023-28. For FY23, cement production in India reached 374.55 million tonnes, a 6.83% increase from the previous year, with a 7-8% growth forecast for FY24, driven by infrastructure and residential investments.

Top Cement Stocks in India 2024: Market Capitalisation

Here’s a snapshot of the leading cement stocks in India based on market capitalisation:

Overview of Best Cement Stocks in India as per Analyst Ratings

1. Dalmia Bharat

Founded in 1939, Dalmia Bharat is a major player in the Indian cement industry. Based in New Delhi, the company operates 15 plants across 10 states, producing 44.6 million metric tons of cement annually. Dalmia Bharat emphasizes sustainable practices, with a water-positive status and the lowest carbon footprint in the industry. The company aims to further enhance its sustainability by reaching 20 times water positive by 2025.

Dalmia Bharat Share Price History

Performance Highlights:

• This Week: +₹60.10 (3.26%)
• This Month: +₹167.60 (9.66%)
• Past Year: -₹343.50 (-15.3%)
• Past 5 Years: +₹1,087.80 (133.59%)

2. ACC

Established in 1936, ACC operates 18 cement plants and over 82 ready-mixed concrete plants. Known for its Gold and Silver cement ranges, ACC contributes to landmark projects like the Bhakra Nangal Dam and Mumbai-Pune Expressway. ACC joined the Adani Group in 2022, diversifying its portfolio.

ACC Share Price History

Performance Highlights:

• This Week: +₹110.45 (4.59%)
• This Month: +₹203.45 (8.79%)
• Past Year: +₹538.95 (27.24%)
• Past 5 Years: +₹975.25 (63.24%)

3. UltraTech Cement

UltraTech Cement, the third-largest cement producer globally, boasts a capacity of over 100 million tonnes per annum. It operates 24 integrated manufacturing units and extends its operations to the UAE, Bahrain, and Sri Lanka. The company’s extensive network of over 1 lakh channel partners ensures widespread market reach.

4. JK Cement

Based in Kanpur, JK Cement produces a variety of products, including grey and white cement, wall putty, and paints. With a production capacity of 20 million tonnes of grey cement and 1.2 million tonnes of white cement annually, JK Cement operates internationally and is a prominent player in the global cement market.

JK Cement Share Price History

Performance Highlights:

• This Month: +₹434.00 (3.85%)
• Past Year: +₹3,530.55 (43.12%)
• Past 5 Years: +₹7,555.20 (181.50%)

5. Ambuja Cements

Part of the Adani Group, Ambuja Cements operates 6 integrated plants and 8 grinding units, with a capacity of 31 million tonnes. Known for its eco-friendly innovations like Ambuja Plus and Ambuja Cool Walls, the company emphasizes sustainability and community engagement.

Ambuja Cements Share Price History

Performance Highlights:

• This Week: +₹10.05 (1.62%)
• This Month: +₹1.30 (0.21%)
• Past Year: +₹208.65 (49.57%)
• Past 5 Years: +₹428.00 (212.30%)

Factors to Consider Before Investing in Cement Stocks in India

When considering investments in cement stocks, several factors should be evaluated:

• Financial Performance: Assess the company’s sales, cost management, and profitability.
• Supply Chain and Raw Material: Monitor the costs and availability of key raw materials like limestone.
• Market Demand: Understand the impact of economic conditions on construction and cement demand.
• Technological Advancements: Keep track of innovations that may improve efficiency or environmental impact.
• Environmental Regulations: Be aware of regulatory requirements that may affect operational costs.
• Competition: Evaluate the competitive landscape and the potential impact on pricing and performance.

Should You Invest in Cement Stocks?

Investing in cement stocks offers potential but requires careful consideration of industry dynamics, economic conditions, and company-specific factors. Comprehensive research and periodic review of your investment strategy are essential to align with your financial goals and risk tolerance. With the Indian cement sector’s growth prospects and the impressive performance of leading cement companies, there are promising opportunities for well-informed investors.