According to a report from analysts at brokerage firm Nomura, Ambuja Cements’ recent entry into the high-priced markets of Kerala and Tamil Nadu is not anticipated to cause disruption just yet. The report highlights that existing players, such as Ramco Cements, are in a strong position, and no immediate pricing pressures are expected. Nomura issued a “reduce” recommendation on Ambuja Cements in its April 16 report, setting a target price of Rs 500, while the stock closed at Rs 622 on the same day.
