Ambuja Cements: Buy at CMP Rs118

Ambuja Cement has recorded a production of 19.55 lakh ton for the month of Mar 10 as against 17.40 lakh ton in Mar 09, a growth of 10.06%. On a cumulative basis, from Jan - Mar 10, the production was at 53.36 lakh ton, a rise of 7.60% as against the same period previous year. At current market price, the stock is trading at 11.2 P/E multiple of its FY11 estimated EPS

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