24 Jul 2017 | 11:51 AM
Research Report

Equity Research Report: Master Pick

Ambuja Cement net sales increased 9% to Rs 5371.25 crore, for six month ended June 2014. The Operating Margin declined marginally to 21.9%. However, raw material costs rose by 60 bps to 8% during the period. As a result, the operating profit grew by 8% at Rs 1176.80 crore and the net profit was higher by 14% to Rs 928.71 crore. The Company expects that construction activity to pick up the pace considering favourable announcement in the Union Budget for infrastructure & housing despite challenging macro-economic conditions. The Company continues to work on improving efficiencies and focus on customer and commercial excellence. The Company believes that these initiatives will help to preserve and improve the performance.
01 Nov 2014 | 08:00 AM

Among cement counters, Ambuja cement, is one of the consistent performer irrespective to the broader market condition. And, it has been maintaining long term uptrend since 2009.

During the corrective phase, it strongly upheld the major support zone of 200 EMA (Exponential Moving Average) on the weekly chart, which clearly shows its strength.

It has formed a distorted cup and handle pattern (generally occur during the accumulation phase and works as continuation pattern) on weekly chart and witnessed an upside breakout from the same recently. So, participants can utilize this opportunity to accumulate between 222-CMP (227.65) with closing below stop loss of 214 level for the target of 258 levels.