Ambuja Cements gains after acquiring limestone resource in Rajasthan

Ambuja Cements rose 1.11% to Rs 268.95 at 14:05 IST on BSE after the company said it secured 200 million tonnes of limestone resource in Rajasthan.

The announcement was made during trading hours today, 3 October 2017.

Meanwhile, the S&P BSE Sensex was up 193.73 points, or 0.62% to 31,477.45.

On the BSE, 22,000 shares were traded in the counter so far, compared with average daily volumes of 1.08 lakh shares in the past two weeks. The stock had hit a high of Rs 271 and a low of Rs 266 so far during the day.

Ambuja Cements said it participated in the e-auction tender of 3D1, Harima Pithasar limestone block in Tehsil and District Nagaur in Rajasthan. The company has secured an estimated limestone resource of 200 million tonnes at a final bid price of 41.6% mineral value.

 

On a consolidated basis, net profit of Ambuja Cements rose 11.86% to Rs 718.24 crore on 14.68% rise in net sales to Rs 6145.33 crore in Q2 June 2017 over Q2 June 2016.

Ambuja Cements, a part of the global conglomerate LafargeHolcim, is among the leading cement companies in India.

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