Multibagger Cement Sector Stock Gains 8%, Hits New 52-Week High On Fundraising Plan

Leading cement sector stock, Ambuja Cements Ltd has gained 7.85% intraday to close at Rs 524 apiece. The stock has also hit a new 52-week high soon after the company's board of directors announced in its regulatory filing that they would meet on September 16, 2022 to consider a fundraising plan.

Check key takeaways below pertaining to Ambuja Cements' stock outlook, market capitalization, and more:

Ambuja Cements To Consider Fundraising Plan

The board of directors of the company said in its BSE filing today, "AMBUJA CEMENTS LTD. has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 16/09/2022 ,inter alia, to consider and approve We wish to inform you that a meeting of the Board of Directors of Ambuja Cements Limited (the 'Company') is scheduled to be held on September 16, 2022 inter-alia, to consider and evaluate proposal for raising of funds by way of issue of equity shares, convertibles and / or any other eligible securities, on a rights/preferential or any other permissible mode/ and/or combination thereof as may be considered appropriate, subject to all such regulatory / statutory approvals as may be required. Kindly take the same on record."

Ambuja Cements Ltd Stock Outlook

The current market price of the stock is Rs 524 apiece with an intraday gain of 7.85%.

Ambuja Cements Ltd Market Capitalization

The company has a market capitalization of Rs 1,04,166.95 crore at the time of writing the story.

Ambuja Cements Ltd 52 Week High/Low

The stock's 52-week high is quoted at Rs 533 apiece and 52-week low is quoted at Rs 274 apiece, respectively.

Ambuja Cements Ltd 5 Years Return

The stock has given a return of 84% in the last 5 years, 161% in last 3 years, and 21% in last 1 year. The stock has climbed 17% in just 1 week span.

Ambuja Cements Ltd About

Ambuja Cements is a large cap company and operates in cement sector. It came into existence in 1981. The company, a member of Holcim - global leader in innovative and sustainable building solutions, is among the leading cement companies in India and is known for its hassle-free, home-building solutions.

Its unique products tailor-made for Indian climatic conditions, sustainable operations and initiatives that advance the company's philosophy of contributing to the larger good of the society have made it the most trusted brand in Indian cement industry, according to its official website.