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Ambuja rallies 11% on Adani's Rs 20K-cr boost; brokerages mixed on outlook

Analysts remain positive on Ambuja Cement's long-term market share gains, but caution against any possible dent in the company's profitability due to excess supply in the market

Topics
Ambuja Cements | Ambuja Cements ACC | Markets

Nikita Vashisht  |  New Delhi 



Ambuja Cements

Share of Ambuja Cement touched a fresh record high of Rs 572 apiece, sprinting 11 per cent, on the in Monday's intra-day trade. The shares, eventually, closed at Rs 564 apiece, up 9.3 per cent, as against 0.5 per cent rise in the benchmark S&P Sensex.

The rally comes after Gautam Adani, chairman of Adani group, said that Ambuja Cement, along with its subsidiary ACC, will become India's most profitable cement company in the medium-to-long term.

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First Published: Mon, September 19 2022. 11:53 IST

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