Stock market analyst Hitesh Chotalia has maintained 'sell' rating on Ambuja Cements Ltd stock with target of Rs 104.

According to analyst, the investors can sell the stock stop loss of Rs 115.

Today, the stock opened at Rs 112.25 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 8.71 and 12.97 respectively.

The share price has seen a 52-week high of Rs 125.60 and a low of Rs 82 on BSE.

Ambuja Cements Ltd, the country's No. 3 cement manufacturer, announced that shipments during the last month (June 2010) increased 6.2% from a year ago to 1.69 million tonnes.

Ambuja Cements, in which Swiss cement manufacturer Holcim holds around 46% equity stake, declared that production during the last month surged to 1.7 million tonnes as against 1.6 million tonnes a year earlier.

Production during January 2010 to June 2010 was 10.84 million tons, up from 9.85 million tons in January- June 2009, whereas dispatches stood at 10.79 million tons, up from 9.86 million tons during the same period of
2009.