India ranks second in the cement sector. With the infrastructure business growing, the need for cement will only increase in the near future. This makes this industry an attractive investment opportunity for investors. Here are some notable stocks in this industry to watch in 2024.
Best cement stocks in 2024
1. UltraTech Cement Ltd
UltraTech Cement Ltd is India’s largest and one of the world’s leading manufacturers of cement, ready mix concrete, white cement, and building solutions. With a consolidated capacity of 138.39 MTPA, UltraTech operates across India, UAE, Bahrain, and Sri Lanka, offering diverse products and services for individual home builders and large-scale projects. UltraTech is a part of the Aditya Birla Group, a USD 7.9 billion conglomerate with a global presence.
Key features of UltraTech Cement Ltd stocks:
Data as of February 23, 2024
- Price-to-Equity (PE) ratio: 44.94
- Price-to-Book (PB) ratio: 5.30
- 52-week high: Rs 6,991
- 52-week low: Rs 10,526
- Dividend yield: 0.38%
- Promoters' holding: 59.96%
2. Ambuja Cements Ltd
Ambuja Cements Ltd is in 80 nations and focuses on concrete, cement, and aggregate. It is a part of Switzerland-based LafargeHolcim Limited, an international conglomerate with a 70-nation presence. Ambuja Cements Ltd was founded in 1983 as Gujarat Ambuja Cements Ltd and later changed its name in 2007.
The company has co-processed over 1,26,000 tonnes of plastic waste, becoming 3.5 times plastic-negative. It has also helped 60,000+ young people through its skill-building initiatives and adopted zero-harm practices to create a healthy and safe environment.
Key features of Ambuja Cement Ltd stocks:
Data as of February 23, 2024
- PE ratio: 37.81
- PB ratio: 3.09
- 52-week high: Rs 608.70
- 52-week low: Rs 324.30
- Dividend yield: 0.41%%
- Promoters' holding: 63.15%
3. ACC Ltd
ACC Ltd is a leading player in the Indian building materials space, with a pan-India operational and marketing presence. It has over eight decades of experience and expertise. The company portfolio has cement, ready-mixed concrete, green building materials, and energy-efficient technologies.
Key features of ACC Ltd stocks:
Data as of February 23, 2024
- PE ratio: 30.92
- PB ratio: 3.56
- 52-week high: Rs 2,746.40
- 52-week low: Rs 1,592.35
- Dividend yield: 0.35%
- Promoters' holding: 56.69%
4. Shree Cement Ltd
Shree Cement Ltd is one of India’s top three cement producers and one of the country's most sustainable and fastest-growing companies. It was founded in 1979 and made cement in 1985 at Beawar in Rajasthan. Since then, it has expanded its production capacity to 50.4 million tonnes per annum, including overseas, and has also set up power plants and waste heat recovery systems. Shree Cement makes different types of cement, such as Bangur, Bangur Magna, Rockstrong and Roofon, for various purposes like building houses, roads and bridges.
Key features of Shree Cement Ltd stocks:
Data as of February 23, 2024
- PE ratio: 42.54
- PB ratio: 5.12
- 52-week high: Rs 422.82
- 52-week low: Rs 206.05
- Dividend yield: 0.38%
- Promoters' holding: 62.55%
5. Ramco Cement Ltd
Ramco Cements has an annual cement production capacity of 22 million tons. It was established in 1957 as Madras Cements and later changed its name to Ramco Cements in 2013. The company makes Portland cement, blended cement, and white cement. It also makes dry mortar, a mixture of cement, sand, and other ingredients used for construction.
Ramco Cements has five integrated cement plants, six grinding units, and one packing plant across India. It also has a wind farm and a solar power plant to generate green energy.
Key features of Ramco Cements Ltd stocks:
Data as of February 23, 2024
- PE ratio: 53.68
- PB ratio: 2.98
- 52-week high: Rs 1,058.20
- 52-week low: Rs 701.65
- Dividend yield: 0.23%
6. India Cements
India Cements was founded in 1946 by Mr. S. N. N. Sankaralinga Iyer and Mr. T. S. Narayanaswami. The company has ten plants in eight states, with a total annual capacity of 38.48 lakh metric tons. It produces Portland cement, blended cement, and ready-mix concrete. It is also into Coromandel Enclave, a real estate project, and Chennai Super Kings, a cricket team.
Key features of India Cements stocks:
Data as of February 23, 2024
- PE ratio: -19.30
- PB ratio: 1.30
- 52-week high: Rs 277.00
- 52-week low: Rs 167.20
- Dividend yield: 0.41%
Conclusion
Investing in the cement industry is a great way to diversify your holdings. With the infrastructure sector booming, you can expect good returns from this industry.
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