INDIA - Ambuja Cements gains 4% ahead of Q1 results

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%.


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