Cantor Sees 30% Rise in Ambuja Cements Shares

Global financial services firm Cantor Fitzgerald has given an "overweight" rating to Adani Group cement company Ambuja Cements, expecting a return of about 30% on investments over the next 12 months.

- TDG NETWORK

It pegged a target price of Rs 745, implying nearly 30 per cent upside from current levels over the next 12 months.

Currently, Ambuja Cements' shares are trading at Rs 582.

Ambuja Cements ranks as the ninth-largest cement company in the world.

Cantor, citing company guidance, said the company has expanded by 50 per cent in less than three years, reaching a current capacity of 104.5 MTPA, which is expected to grow to 118 MTPA by 2025-26 and 140 MTPA by 2027-28. This, according to Cantor, was possible due to a combination of acquisitions and organic growth efforts.

According to management, the focus in 2025-26 will be on organic growth.