Shares of Ambuja CementsNSE 2.59 % advanced nearly 4% in Monday’s trade ahead of the company’s March quarter results scheduled later in the day.
The stock jumped 3.6% to hit a high of Rs 174 on BSE.
Cement demand, which was poor during April-October, picked up since November 2019. However, it fell 30-40% in March due to the lockdown.
Ambuja Cements’ volumes are seen falling 9-12% in March quarter on year-on-year basis. Nomura India expects profit for the cement maker to drop 26% YoY to Rs 317 crore and Ebitda per tonne to increase by 7%.