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Ambuja Cements zooms on getting ratings reaffirmed by CRISIL

Ambuja Cements is currently trading at Rs. 339.10, up by 7.10 points or 2.14% from its previous closing of Rs. 332.00 on the BSE.

The scrip opened at Rs. 336.40 and has touched a high and low of Rs. 342.60 and Rs. 333.10 respectively. So far 123402 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 342.60 on 07-Jun-2021 and a 52 week low of Rs. 181.75 on 12-Jun-2020.

Last one week high and low of the scrip stood at Rs. 342.60 and Rs. 322.80 respectively. The current market cap of the company is Rs. 67313.37 crore.

The promoters holding in the company stood at 63.29%, while Institutions and Non-Institutions held 30.12% and 6.59% respectively.

Credit rating agency — CRISIL Ratings has reaffirmed Ambuja Cements’ Long Term Rating at ‘AAA’ and Short Term Rating at ‘A1+’. The ratings continue to reflect the company’s healthy market position in north and west India, robust operating efficiency and strong financial risk profile because of healthy cash flows. These strengths are partially offset by susceptibility to the commoditised and cyclical nature of the cement industry. Any substantial debt-funded capex or acquisition, which may weaken the financial risk profile, will be a key rating sensitivity factor.

Ambuja Cements is engaged in manufacturing and marketing of cement and clinker for both domestic and export markets.

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