Stock market analyst Hitendra Vasudeo of stockmechanics.com has maintained ‘Sell’ rating on Ambuja Cements stock to achieve a target between Rs 95.30-Rs 91.60.

The investors are advised to sell the stock in order to avoid loss, as there are full chances of a downward trend in this stock.

If the stock fell below Rs 88, it may see more weakness.

According to Mr. Vasudeo, investors can sell the stock around Rs 97.40-Rs 99 with a strict stop loss of Rs 99.50.

After selling the stock in today’s session, the interested investors can enter the stock again, but only on declines.

Today, the shares of the company opened at Rs 97.90 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 9.26 & 10.28 respectively. The share price has seen a 52-week high of Rs 107 and a low of Rs 43 on BSE.

Ambuja Cements Ltd declared that a meeting of the company’s directors will be held on July 23, 2009, to consider the quarterly unaudited financial results for the three month period ended on June 30 and to consider payment of interim dividend on equity shares.

Ambuja Cements, on July 04, dispatched 1.64 million tons cement in April 2009 as against 1.48 million tons in April 2008.

Production also went up to 1.65 million tons during the same period (April 2009) as compared to 1.55 million tons in the corresponding month last year.

During the January-April 2009, Ambuja Cements dispatched 6.64 million tons and manufactured 6.61 million tons of cement.