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Ambuja Cements gains after strong Q4 result

Capital Market 

Ambuja Cements rose 1% to Rs 199.80 at 09:18 IST on BSE after consolidated net profit surged 188.02% to Rs 1377.88 crore on 9.32% rise in total income to Rs 6855.22 crore in Q4 December 2018 over Q4 December 2017.

The announcement was made after market hours yesterday, 18 February 2019.

Meanwhile, the S&P BSE Sensex was up 66.89 points, or 0.19% to 35,565.33

On the BSE, 44,000 shares were traded in the counter so far compared with average daily volumes of 1.03 lakh shares in the past two weeks. The stock had hit a high of Rs 202.70 and a low of Rs 198.10 so far during the day.

Ambuja Cements' cement sales volumes increased to 13.63 million tonnes in Q4 December 2018 from 12.78 million tonnes in Q4 December 2017.

In its outlook, Ambuja Cements said that the higher allocation announced in the interim Budget 2019 to roads and the housing sector will help boost economic development in rural India which is expected to have a positive impact on cement demand.

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

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, February 19 2019. 09:16 IST
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