The conglomerate completed the acquisition of Ambuja Cements and its subsidiary ACC from Switzerland’s Holcim Group for $6.4 billion in September. Analysts are positive on Ambuja on its growth prospects on the back of its strong brand with a pan-India presence, cost efficiency and robust balance sheet.
ICICI Direct expects healthy revenue growth for Ambuja Cements in till March 2023 despite a high base citing its aggressive expansion strategy and focus on cost efficiency.
The brokerage has a target price of Rs 610 for the stock — implying an upside potential of eight percent.