Technical Analyst, Ashwani Gujral is of the vision that Ambuja Cement has target of Rs 155.

Gujral said, “Ambuja Cement at this point probably looks a little better although large cap cement is not showing the kind of moves that mid cap cement is showing. For Ambuja Cement Rs 130 seems to be a good support, and Rs 155 can be a good target. But large caps don’t seem like they are going to make new highs, they seem to get stuck and some bad news tends to come whenever they retest their previous highs.”

Ambuja Cements Limited was established in 1986. In this short time period, Ambuja Cements has attained huge growth. At present, the overall cement capacity of the company is 16 million tones, and has three subsidiaries, viz, Ambuja Cement Rajasthan Limited (ACRL), Ambuja Cement Eastern Limited (ACEL) and Ambuja Cement India Limited (ACIL).

The company also has a strategic investment in ACC through its subsidiary (ACIL).