Gujarat Ambuja Cements announces Business Outlook

Gujarat Ambuja Cements Ltd has announced the following Outlook:

The current quarter has seen a growth of 6.6%. The fiscal year April - March 2007 has seen a growth of 9.94%. The Company expect going forward the demand to be strong, backed on strong economic growth.

The company has announced the following Unaudited results for the quarter ended March 31, 2007. The Company has posted a net profit of Rs 5907.40 million for the quarter ended March 31, 2007 where as the same was at Rs 4127.70 million for the quarter ended March 31, 2006. Total Income (net of excise) is Rs 17002.50 million for the quarter ended March 31, 2007 where as the same was at Rs 11310.70 million for the quarter ended March 31, 2006.

The company has updated on the Projects: The setting up of the cement grinding units of one million tonne each at Farakka in West Bengal and Roorkee at Uttaranchal are progressing well and both would be commissioned during the current quarter.

The upgradation of the cement plant at Rabriyawas in Rajasthan is progressing well and is likely to be completed by July 2007 wherein its clinkering capacity will go up to 2 million tonnes from 1.5 million tonnes currently.

The Company has commissioned the first phase of 30MW power plant at Ambujanagar during the quarter and the second phase of 30MW is expected to be commissioned during the current quarter.The stock closed the day at Rs.115.45, up by Rs.2 or 1.76%. The stock hit an intraday high of Rs.116.75 and low of Rs.114.60. The total traded quantity was 2013422 shares compared to 2 week average of 1344359.

Source : Equity Bulls

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