Accumulate Ambuja Cements Ltd. target Rs 255 : Prabhudas Lilladher

Prabhudas Lilladher has Accumulate call on Ambuja Cements Ltd. with a target price of Rs 255 .The current market price of Ambuja Cements Ltd. is Rs 241.7 The time period given by the brokerage is a year when Ambuja Cements Ltd. price can reach defined target. Prabhudas Lilladher said prices are expected to remain firm in the company's key markets due to strong de mand outlook and low capacity addition. It said demand is likely to revive Q4CY2016 onwards on the back of good monsoons, impact of 7th pay commission, the government's strong focus on infrastructure spending and low cost housing.