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'FY25 will be one of the weakest years': What Goldman Sachs says on UltraTech, ACC & Ambuja Cements

Goldman Sachs has forecasted that FY25 will be one of the weakest years for the Indian cement sector, predicting a significant slowdown in volume growth to 6% from 11% in FY24. This outlook is attributed to a high base effect, a slowdown in government spending, and a lack of significant capacity additions. Specifically for major cement companies, Goldman Sachs has set a target price of Rs 11,000 for UltraTech Cement, Rs 2,600 for ACC, and Rs 600 for Ambuja Cements. The report suggests that while there might be some relief in pricing due to lower fuel costs, the overall market conditions remain challenging. Additionally, the brokerage firm has downgraded UltraTech Cement to 'Neutral' from 'Buy', while maintaining 'Sell' ratings for both ACC and Ambuja Cements, citing concerns over valuation and expected earnings growth.

Read the Full Business Today Article at:
[ https://www.businesstoday.in/markets/stocks/story/fy25-will-be-one-of-the-weakest-years-what-goldman-sachs-says-on-ultratech-acc-ambuja-cements-456120-2024-12-04 ]