India's Shree Cement rises after HSBC upgrades to 'buy', hikes price target
BUZZ-India's Shree Cement rises after HSBC upgrades to 'buy', hikes price target ** Cement maker Shree Cement's shares SHCM.NS rise as much as 3.17% to 26,050 rupees apiece
** Rise after HSBC upgrades SHCM to "buy" from "hold" and raises price target to 30,780 rupees from 26,450 rupees, implying an upside of 22.4%
** HSBC expects SHCM's sales volume growth in FY2027 to outpace the industry, as the drag from its brand repositioning has largely faded and the revamped positioning is expected to support demand
** Raises FY2028 and FY2029 EBITDA estimates by 7%-8%
** Says sustained crude price decline is a positive for the cement sector and expects margins to improve in the second half of FY2027
** Average rating of 40 analysts tracking SHCM is "hold", median price target is 27,863 rupees, data compiled by LSEG shows
** SHCM shares are down 2.6% in 2026 so far, according to exchange data
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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