Ambuja Cements shares rose around 2% after brokerage firm Nuvama maintained its ‘buy’ rating on the stock with a target price of ₹694. The company, part of the Adani Group, remains on Nuvama’s radar due to its ongoing capex plans and focus on cost-efficiency.
According to the brokerage, the cement sector is likely to see a slight improvement in capacity utilisation in the near term. The demand outlook continues to look stable, supported by ongoing infrastructure activity led by government initiatives.
Ambuja Cements is expected to benefit from this trend, with its strategic investments and operational efficiencies playing a key role in its growth trajectory.
Ambuja Cements shares opened at ₹582.00 and touched a high of ₹593.50 during the session. The stock recorded a low of ₹581.55. Over the past 52 weeks, Ambuja Cements has seen a high of ₹706.95 and a low of ₹453.05. As of 12:46 PM, the shares were trading 2.02% higher at Rs 591.70.
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