Ahead of the Reserve Bank of India's rate decision, market participants are likely to remain cautious, as was seen the previous day when the benchmarks ended flat after choppy trade
Ambuja placed orders to expand clinker capacity by 8 million tonnes at two units that would operate on green power or renewable energy, and help increase production of blended green cement by 14 million tonnes, it said in a stock exchange filing.
Motilal Oswal recommended Neutral rating on Ambuja Cements with a target price of Rs 390 in its research report dated May 02, 2023.
Emkay Global Financial recommended hold rating on Ambuja Cements with a target price of Rs 415 in its research report dated May 03, 2023.
While the management has reiterated plans to double group cement capacity to 140 million tonnes in five years, Kotak Institutional Equities finds the target 'too ambitious'
Ambuja Cements has recommended final dividend of Rs 2.5 per share for the financial year 2022-23.
The company, now part of the Adani Group, had clocked a net profit of Rs 856.46 crore in the January-March quarter a year-ago, Ambuja Cements
The stocks were weighed down by a report stating that Adani group has suspended work on a Rs 34,900 crore petrochemical project at Mundra
Cement players are focusing on volumes instead of prices in the near term to fulfil year-end targets.
The move is in line with the promoters’ commitment to increase equity contribution and the promoters have now infused $2.6 billion out of total acquisition value of $6.6 billion for Ambuja and ACC, the Gautam Adani-led conglomerate has said
The Adani Group earlier today stated that it has completed full prepayment of margin linked share-backed financing aggregating to $2.15 billion, before committed timeline of March 31, 2023.
Adani has issued a formal request to global lenders for selling four to five percent stake in the cement business, the report said, citing sources who are privy to the development.
Fund managers first rushed to load up on Ambuja Cements, wanting some exposure to the Adani story. Post-Hindenburg, most of them stampeded for the exit all at once
Apart of NDTV, all other Adani group stocks are part of various FTSE indices
The cement production in India is estimated to grow by around 6 percent to 8 percent over fiscal years 2023 and 2024, following a 21 percent jump for the fiscal year ended March 2022, according to a report by Moody’s.
Cash generated from operations falls by 98% YoY
Normal trading in a security resumes only after the aggregate open interest across exchanges comes down to 80 percent or below the market-wide position limit, the NSE said.
According to foreign brokerage firm Jefferies, a GST cut from 28 percent to 18 percent would imply 7-8 percent cut in customer pricing
The standalone revenue from operations for the quarter at Rs 4,128.52 crore grew by 10.4 percent over the year-ago period, The company recorded a 7 percent YoY rise in sales volumes at 7.7 million tonnes for the quarter, which was also ahead of analysts' estimates that pegged at 7.45 million tonnes
According to Kotak Institutional Equities, net profit of the cement manufacturer will witness a jump of 37 percent YoY and 150 percent QoQ to Rs 344.8 crore in the quarter ended December. It sees the cement maker reporting a revenue of Rs 4,127.5 crore in the December quarter, up percent 12.5 QoQ and 10.5 percent YoY.
Meanwhile, the NSE has removed Ambuja Cements from the F&O ban list as per its circular dated February 3. The stock has posted 6 percent rally on last Friday on top of 5.5 percent gains in previous session.