Ambuja Cements shares gained over per cent 4 per cent on the bourses on Thursday after Nomura upgraded its stocks to ‘buy’ from ‘Neutral’. (Photo: Reuters image for representation only)
Ambuja Cements shares gained over per cent 4 per cent on the bourses on Thursday after Nomura upgraded its stocks to ‘buy’ from ‘Neutral’
At 10.30 am, the stocks of the company were trading 4.32 per cent up at Rs 219.55. On NSE Nifty, the shares were trading 4.72 per cent up at Rs 219.80. Sensex was up 242.60 points at 25,696.16 during the same time.
While upgrading the stock, Nomura said current valuations of the company are reasonable in context of net cash balance sheet and strong franchise. It added company would be key beneficiary of pick up in non-south regions of India
Ambuja Cements reported 45 per cent fall in its standalone net profit at Rs 226.4 crore for the second quarter ended June, 2015.
The cement maker, in which Swiss building material major Holcim has a majority stake, had posted a net profit of Rs 408.7 crore in the year-ago period, it said in a BSE filing.
With agency inputs
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