The 2.05% stake in Ambuja represents over 50 lakh shares.
Ambuja Cements shares closed on Friday with declines of 0.25% at Rs 583.80 on the NSE. The stock has delivered returns of 31% in the past 12 months which is an outperformance over Nifty which has yielded 26% in the same period.
The company is expected to report a decline in its July-September quarter revenue on an year-on-year and sequential basis at Rs 3,803 crore. The revenue is expected to go down by 4.2% YoY and 15.8% on QoQ basis, Sharekhan said in its Q2 preview note. Meanwhile, net profit in the said quarter is seen at Rs 249 crore which could go down by 61.3% YoY and 57.3% QoQ.
The operating profit margin (OPM) is expected at 11.6% for Q2FY25 which could go down by 793 bps over Q2FY24 and by 275 bps over Q1FY25.
Ambuja Cements shares 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.Momentum indicators RSI and MFI as reported by Trendlyne show this stock in a medium range of 35 and 55. A number above 70 is considered to be overbought while below 30 is seen as oversold.
Also Read: Just Dial Q2 Results: Net profit zooms 114% YoY to Rs 154 crore, revenue up 9%
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)