Axis Securities maintains a Buy rating on Dalmia Bharat with a target price of 2,430 per share, noting that the valuation remains attractive compared to larger peers.

Dalmia Bharat expects input costs for the cement industry to soften due to easing tensions in West Asia, although it anticipates earnings impacts from recent disruptions in the first half of the fiscal year. The company plans to invest over 10,000 crore to expand its capacity to 66.7 million tonnes per annum by FY28, with significant investments in new projects and acquisitions to strengthen its market position.