Neutral on Ambuja Cements, target price Rs 250: Motilal Oswal

Motilal Oswal has given a neutral rating to Ambuja Cements with a target price of Rs 250. The share price moved up by 0.27 per cent from its previous close of Rs 255.15. The stock’s last traded price is Rs 255.80.
Ambuja Cements Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 51090.65 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.