Shares of Ambuja Cements Ltd. fell the most since Tuesday after its July-September net income missed analyst estimates.
Q3CY2023 (Standalone, QoQ)
Net income at Rs 137.89 crore compared with Bloomberg consensus estimate of Rs 218 crore.
Revenue at Rs 3670.40 crore versus an estimate of Rs 3,551 crore.
Ebitda at Rs 304.33 crore versus Rs 684.54 crore
Ebitda margin at 8.29% versus 17.14%
Shares of the company eased 0.66% to Rs 514.30 apiece as of 1:40 a.m., while the benchmark Nifty 50 traded flat on the NSE. During early trade, it fell by 2.7%, the most since Oct. 18.
Of the 46 analysts tracking the company, 22 maintain ‘buy’, 15 suggest % hold’ and nine recommend ‘sell’, according to Bloomberg data. The 12-month consensus price target implies a downside of 9.7%.
Source: Exchange filing, Bloomberg
