Ambuja rallies 11% on Adani's Rs 20K-cr boost; brokerages mixed on outlook

Analysts remain positive on Ambuja Cement's long-term market share gains, but caution against any possible dent in the company's profitability due to excess supply in the market

Share of Ambuja Cement touched a fresh record high of Rs 572 apiece, sprinting 11 per cent, on the BSE in Monday's intra-day trade. The shares, eventually, closed at Rs 564 apiece, up 9.3 per cent, as against 0.5 per cent rise in the benchmark S&P BSE Sensex.

The rally comes after Gautam Adani, chairman of Adani group, said that Ambuja Cement, along with its subsidiary ACC, will become India's most profitable cement company in the medium-to-long term.

Going forward, analysts remain positive on the company's long-term market share gains, but caution against any possible dent in the company's