Ambuja Cements reports standalone profit at Rs 665 crore: Should you buy, sell or hold the stock?

Ambuja Cements reported a standalone profit of Rs 664.6 crore in the first quarter of FY22 against Rs 399 crore in Q4FY21 and net sales jumped about 30 percent to Rs 3,579 crore from Rs 2,760 crore YoY. The company reported an EBITDA increase of 62 percent to Rs 977 crore with a margin expansion of 540 basis points. The company follows the calendar year for reporting earnings so January-March 2021 is quarter 1. Here is a what various brokerages suggest that investors should do with the stock post the numbers:

Yes Securities | Rating: Add | Target Price: Rs 355

Morgan Stanley | Rating: Overweight | Target Price: Rs 370

Jefferies | Rating: Buy | Target Price: Rs 360

Macquarie | Rating: Outperform | Target Price: Rs 367

ICICI Direct | Rating: Buy | Target Price: Rs 365

Arihant Capital | Rating: Buy | Target Price: Rs 397

Prabhudas Lilladher | Rating: Buy | Target Price: Rs 375

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9/11

Prabhudas Lilladher | Rating: Buy | Target Price: Rs 375

10/11

Dolat Capital | Rating: Accumulate | Target Price: Rs 345

11/11

Motilal Oswal | Rating: Neutral | Target Price: Rs 320

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