Buy Ambuja Cements, target price Rs 610: Axis Securities

Axis Securities has buy call on Ambuja Cements with a target price of Rs 610. The current market price of Ambuja Cements is Rs 511.65. 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 101506.18 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-2021.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 8165.85 Crore, up 2.20 % from last quarter Total Income of Rs 7990.34 Crore and up 15.73 % from last year same quarter Total Income of Rs 7055.76 Crore. Company reported net profit after tax of Rs 859.08 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 63.2 per cent stake in the company as of 30-Jun-2022, while FIIs owned 12.82 per cent, DIIs 14.98 per cent.