Why Cement Could Be A Big Winner In 2026: CLSA Explains The Growth Story

Cement is emerging as a top sectoral bet for 2026, with CLSA forecasting a 20%+ profit pool growth for the second straight year. A revival in housing activity, sustained infrastructure spending and a likely private capex recovery are set to drive demand momentum. Sector consolidation is restoring pricing power, giving large players an edge in market share gains. CLSA’s top picks remain UltraTech Cement and Ambuja Cement. With January–March being a peak construction season and the Union Budget expected to maintain a strong infra focus, the near-term outlook looks supportive. While large caps offer stability, select mid-sized players like JK Lakshmi Cement and JK Cement could outperform due to recent capacity expansions, making the cement space attractive across risk profiles in 2026.