Buy Ambuja Cements, target price Rs 700: Emkay Global

Emkay Global has buy call on Ambuja Cements with a target price of Rs 700. The current market price of Ambuja Cements is Rs 689.2.

Ambuja Cements Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 169955.52 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 31-03-2024, the company reported a Consolidated Total Income of Rs 9127.45 Crore, up 9.67 % from last quarter Total Income of Rs 8322.45 Crore and up 10.63 % from last year same quarter Total Income of Rs 8250.45 Crore. Company reported net profit after tax of Rs 1522.35 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 66.74 per cent stake in the company as of 31-Mar-2024, while FIIs owned 11.09 per cent, DIIs 14.24 per cent.