Ambuja Cements slips on net decline

Ambuja Cements dropped to a low of Rs 95 and recovered to a high of Rs 102. It finally ended down 1% at Rs 100. The counter witnessed trades of 5.17 lakh shares on the BSE as agaist a two week daily average trade of 1.96 lakh shares.
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(Updated at 0942 hrs)

Cement major Ambuja Cements loses ground on account of a decline in net profit. The stock is trading at Rs 98, weaker by Rs 1 or 1.9%, on the BSE. The shares have touched a high of Rs 99 and a low of Rs 95 thus far.

The cement producer's consolidated net profit declined by 12.43 per cent to Rs 1,216.84 crore for the year ended December 31, 2009 from Rs 1,389.71 crore a year earlier.

On a standalone basis, the company posted a net profit of Rs 1,218.37 crore in 200 as against Rs 1,402.27 crore in 2008.