Buy Ambuja Cement; target of Rs 831: ICICI SecuritiesMoneycontrol • 8 days ago
ICICI Securities is bullish on Ambuja Cement has recommended buy rating on the stock with a target price of Rs 831 in its research report dated April 18, 2024.
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ICICI Securities has maintained a buy rating on Ambuja Cement and increased its target price to Rs 831 a share, up 35 percent from current market price.
Adani family had invested Rs 5,000 crore in October 2022 in Ambuja Cements and further infused Rs 6,661 crore on 28 March 2024
Ambuja Cements has entered the southern market with a deal to acquire a grinding unit owned by an unlisted entity named My Home Group.
Ambuja Cements offloaded a 2 percent stake in Sanghi Industries to comply with the minimum public shareholding norms.
ICICI Securities is bullish on Ambuja Cements recommended buy rating on the stock with a target price of Rs 831 in its research report dated March 11, 2024.
Nifty 50 companies Adani Enterprises and Adani Ports and Special Economic Zone have gained 8.6% and 11.6% in a month
Traders should keep a close eye on key support (21,500) and resistance levels (22,000–22,100) and remain flexible in their trading strategies,
Motilal Oswal recommended Neutral rating on Ambuja Cements with a target price of Rs 550 in its research report dated January 31, 2024.
During the quarter, the Adani Group company completed the acquisition of Sanghi Industries and its subsidiary ACC Ltd completed the acquisition of the balance 55% stake in Asian Concretes and Cements Private Ltd, amid robust expansion plans to grab market share.