Buy Ambuja Cements, target price Rs 424: ICICI Securities

ICICI Securities has buy call on Ambuja Cements with a target price of Rs 424. The current market price of Ambuja Cements is Rs 339.55. Time period given by analyst is one year when Ambuja Cements Ltd. price can reach defined target.

Ambuja Cements Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 67531.79 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 31-12-2021, the company reported a Consolidated Total Income of Rs 7709.61 Crore, up 14.38 % from last quarter Total Income of Rs 6740.57 Crore and up 2.08 % from last year same quarter Total Income of Rs 7552.73 Crore. Company reported net profit after tax of Rs 426.18 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 63.21 per cent stake in the company as of 31-Dec-2021, while FIIs owned 14.69 per cent, DIIs 15.09 per cent.