Dalmia Bharat Shares Soar 2% on Emkay's 'Add' Rating, 22% Upside Seen

• Dalmia Bharat shares rose 2% on December 23 after Emkay Global Financial Services issued a positive brokerage note.
• Emkay Global maintained an 'Add' rating with a target price of Rs 2,450, implying a 22% upside potential.
• Cement demand improved in December, expecting mid-to-high single-digit growth for Q3 FY26.
• Cement prices are anticipated to improve from Q4 (January-March), leading to better stock returns.
• Dalmia Bharat targets operating cost savings of Rs 150-200 per tonne by FY27.

Why It Matters: Emkay Global's positive outlook on Dalmia Bharat, citing improved demand and cost savings, drives stock rally.