Conviction buys: UltraTech, Dalmia Bharat and JK Cement offer up to 14% returns. Axis Direct explains why

Axis Direct recommends UltraTech Cement, Dalmia Bharat and JK Cement after strong Q3 results, citing capacity expansion, rising demand and cost efficiencies. The brokerage sees upside potential of 8–14% as market share gains and margins improve over the medium term.