Ambuja Cements retracts from record high

Ambuja Cements declined 0.97% to Rs 183.50 at 11:39 IST on BSE on reporting muted rise in production and dispatches in July 2012 over July 2011.

Meanwhile, the BSE Sensex was down 68.30 points or 0.4% to 17,189.08

On BSE, 31,266 shares were traded in the counter as against average daily volume of 2.8 lakh shares in the past one quarter.

The stock hit an intraday high of Rs 185.70, matching its record high scaled on Wednesday, 1 August 2012. The stock hit a low of Rs 183.50 so far during the day. The stock had hit a 52-week low of Rs 119.90 on 9 August 2011.

The stock had outperformed the market over the past one month until 1 August 2012, rising 6.52% compared with the Sensex's 0.99% fall. The scrip had also outperformed the market in past one quarter, advancing 22.80% as against 0.35% decline in the Sensex.

The large-cap cement maker has an equity capital of Rs 307.89 crore. Face value per share is Rs 2.

Ambuja Cements said its cement dispatches rose 1.25% to 16.97 lakh tones in July 2012 over July 2011. Cement production rose 1.13% to 16.87 lakh tones in July 2012 over July 2011. The announcement was made after market hours on Wednesday, 1 August 2012.

Ambuja Cements net profit rose 34.9% to Rs 468.90 crore on 17.9% growth in net sales to Rs 2565.95 crore in Q2 June 2012 over Q2 June 2011.

Ambuja Cements is engaged in manufacturing and marketing cement and clinker for both domestic and exports markets.

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