Hold Ambuja Cements, target price Rs 280: ICICI Direct

ICICI Direct has hold call on Ambuja Cements with a target price of Rs 280. The current market price of Ambuja Cements Ltd. is Rs 264.1.

Ambuja Cements Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 52550.10 Crore) operating in Cement sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 6169.47 Crore, up 32.84 % from last quarter Sales of Rs 4644.17 Crore and up 1.51 % from last year same quarter Sales of Rs 6077.62 Crore Company reported net profit after tax of Rs 800.70 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 63.3 per cent stake in the company as of Sept 30, 2020, while FIIs held 16.8 per cent, DIIs 13.3 and public and others 6.6 per cent.