Prabhudas Lilladher recommends accumulating shares of Ambuja Cements, targeting a price of Rs 697, which is higher than the current market price of Rs 659.9.
Summary of Ambuja Cements’ Financial Performance
Ambuja Cements, a prominent player in the cement sector with a market capitalization of Rs 164,241.07 crore, reported a consolidated total income of Rs 9,127.45 crore for the quarter ended March 31, 2024. This represents a 9.67% increase from the previous quarter and a 10.63% increase from the same quarter last year. The company achieved a net profit after tax of Rs 1,522.35 crore in the latest quarter.
Ownership Details
As of March 31, 2024, promoters hold a 66.74% stake in Ambuja Cements, while Foreign Institutional Investors (FIIs) own 11.09% and Domestic Institutional Investors (DIIs) own 14.24%.
Investment Recommendation
Prabhudas Lilladher’s recommendation to accumulate Ambuja Cements underscores confidence in the company’s growth potential, supported by its recent financial performance and strategic market position.
This analysis provides insights into Ambuja Cements’ strong financial results and ownership structure, highlighting opportunities for potential investors in the cement sector.
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