Nomura Gives Buy Call On Gautam Adani Ambuja Cement Stock On Strong Capacity Expansion

Ambuja Cement Share Price: The stock of Ambuja Cement, the cement company of the country's second richest industrialist Gautam Adani, can give strong returns to investors. Global brokerage house Nomura has advised to buy the stock of Ambuja Cement in its research note. According to Nomura, the stock can give investors a return of 17.3 percent from its current level.

Nomura has released a research note on Ambuja Cement. In this note, the brokerage house wrote that the company is moving towards the target of 140 million tonnes of volume growth. Nomura said, due to the company's strong capacity expansion plan, it has decided to upgrade the stock and has increased the target price of the stock to Rs 780. According to the brokerage house, the stock can show a rise of 17 percent. After the release of this report, the stock of Ambuja Cement is trading at Rs 676.90 with a jump of 1.77 percent.

Nomura said in its report, the company has a very aggressive capacity expansion plan. Also, the company is constantly entering new markets. Apart from this, more volume growth is being seen than the industry. There is an emphasis on brownfield projects and the company is also focused on reducing costs. According to Nomura, the company is going to increase its capacity by 24 million tonnes through organic and inorganic expansion plans by the financial year 2025-26. The brokerage house has not yet added the capacity of Penna Cement, which the company has recently decided to acquire.

In the year 2022, Adani Group made a strong entry into the cement sector by buying Ambuja Cement and ACC from Holcim. Adani Group is continuously expanding by acquiring cement companies in different regions. Earlier Ambuja had bought Sanghi Cement and now recently it has decided to buy Penna Cement for Rs 10422 crore.

If we look at the movement of Ambuja Cement, the stock has given a return of 83 percent in 2 years. While there has been a jump of 61 percent in one year. And in five years, the company has given a multibagger return of 220 percent. The market cap of Ambuja Cement has reached Rs 166,704 crore.

Disclaimer: (The information provided here is for information purposes only. It is important to note here that investing in the market is subject to market risks. Always seek expert advice before investing as an investor. ABPLive.com It is never recommended to invest any money on behalf of anyone.)

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