Ambuja Cements rallies 5%, hits all-time high in a range-bound market

With aggressive expansion strategy, and focus on cost efficiencies, analysts at ICICI Securities expect healthy revenue growth in CY21-23E despite high base

Shares of Ambuja Cements hit an all-time high of Rs 586 as they rallied 5 per cent on the BSE in Monday's intra-day, in an otherwise range-bound market. The stock of the Adani Group Company surpassed its previous high of Rs 585.45, touched on September 20, 2022. In comparison, the S&P BSE Sensex was down 0.01 per cent at 61,786 points at 02:19 PM.

In the past one month, the stock has soared 17 per cent amid management's expectation that the recent cooling off in energy prices and post monsoon demand pick up would support the company in the