Ambuja Cements can test Rs 135: Gupta

Ambuja Cements can test Rs 135, says Amit Gupta, Chief Manager- Derivatives -ICICI Securities.

Gupta told CNBC-TV18, "This is a renewed buying which has coming in the infrastructure and the cement space now before budget. These stocks have remained underperformers for quite a while, so it is possible the momentum may continue. If you look at Ambuja Cement particularly it has relatively outperformed the other stocks in the same sector, so I will remain with Ambuja Cement for a while and they will ride the momentum. I think it may go upto Rs 135 and Rs 120 should be a stoploss if you are going long in the stock." Ambuja Cements trailing 12-month (TTM) EPS was at Rs 8.26 per share. (Dec, 2010). The stock's price-to-earnings (P/E) ratio was 15.23. The latest book value of the company is Rs 50.56 per share. At current value, the price-to-book value of the company was 2.49. The dividend yield of the company was 1.91%.