Ambuja Cement share price: Buy Ambuja Cements, target price Rs 326: ICICI Direct

ICICI Direct has buy call on Ambuja Cements with a target price of Rs 326. The current market price of Ambuja Cements Ltd. is Rs 322.65.

Ambuja Cements Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 63540.65 Crore) operating in Cement sector. Ambuja Cements Ltd. key Products/Revenue Segments include Cement, Other Operating Revenue and Scrap for the year ending 31-Dec-2020.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 7811.96 Crore, up 3.43 % from last quarter Total Income of Rs 7552.73 Crore and up 22.22 % from last year same quarter Total Income of Rs 6391.47 Crore. Company has reported net profit after tax of Rs 1221.86 Crore in latest quarter.

Investment Rationale
Price sustaining above 20 day EMA & previous highs


Promoter/FII Holdings
Promoters held 63.3 per cent stake in the company as of Dec 31, 2020, while FIIs held 18.1 per cent, DIIs 11.4 per cent and public and others 7.1 per cent.



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