According to SBICapital the Chalisgaon ramp-up was impressive, it announces 33 percent increase in maize processing capacity.
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Shares of Gujarat Ambuja Exports slipped 2.4 percent intraday Thursday despite brokerage house SBICapital maintained buy with a target price of Rs 370 per share.
It has touched an intraday high of Rs 251.15 and an intraday low of Rs 245.35.
According to SBICapital the Chalisgaon ramp-up was impressive, it announces 33 percent increase in maize processing capacity.
It believes that the company continue to benefit from strong export demand and there is no impact of MSP-led increase in corn prices as hike in prices passed on.
At 13:18 hrs Gujarat Ambuja Exports was quoting at Rs 246, down Rs 5.05, or 2.01 percent.
The share touched its 52-week high Rs 309.85 and 52-week low Rs 172 on 25 April, 2018 and 03 October, 2018, respectively.
Currently, it is trading 20.61 percent below its 52-week high and 43.02 percent above its 52-week low.First Published on Dec 20, 2018 01:26 pm
