Buy Ambuja Cements, target price Rs 635: JM Financial Jobbery Stock Market update

JM Financial maintains a buy call on Ambuja Cements with a target price of Rs 635, citing strong volume growth and better-than-expected realization. Ambuja’s consolidated volume grew by 13% YoY and QoQ, with EBITDA increasing significantly QoQ. The company aims to expand capacity to 140mt by FY28, supported by a robust balance sheet and dominant market position.

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