The 2.05% stake in Ambuja represents over 50 lakh shares.
Shares of Ambuja Cements closed down 0.25% at Rs 583.80 on the NSE on Friday. The stock has returned 31% in the last twelve months, outperforming Nifty, which returned 26% in the same period.
The company is expected to report a decline in sales in the July-September quarter on a year-on-year and sequential basis by Rs 3,803 crore. Revenue is expected to decline 4.2% year-on-year and 15.8% quarter-on-quarter, Sharekhan said in its second-quarter preview note. Meanwhile, net profit in the said quarter is seen at Rs 249 crore, which could decline by 61.3% YoY and 57.3% QoQ.
Operating profit margin (OPM) is expected to be 11.6% for Q2FY25, which could decline by 793 bps from Q2FY24 and 275 bps from Q1FY25.
Shares of Ambuja Cements are currently trading below their 50-day and 200-day simple moving averages (SMAs) of Rs 626 and Rs 612 respectively. The stock has been quite volatile with a 1-year beta of Rs 1.6 as reported by Trendlyne. The momentum indicators RSI and MFI, as reported by Trendlyne, show this stock in a mid-range of 35 and 55. A number above 70 is considered overbought, while below 30 is considered oversold.
Also Read: Just Call Second Quarter Results: Net Profit Up 114% YoY To Rs 154 Crore, Revenue Up 9%
(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of Economic Times)
