Stock market analyst Ashwani Gujral has maintained ‘Buy’ rating on Ambuja Cements to achieve an intraday target of Rs 95.

According to Mr. Gujral, interested traders can buy the stock on declines with a strict stop loss of Rs 80.

Mr. Gujral also said that if the stock market remains on the positive track, the stock will hit another target of Rs 100 in today’s session.

Shares of the company, on Tuesday (June 22), closed at Rs 86.40 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 9.26 and 9.53 respectively. The share price has seen a 52-week high of Rs 107 and a low of Rs 43 on BSE.

Mitesh Thacker, Technical Analyst, miteshthacker.com has also given a short term buy call for Ambuja Cements to achieve a target of Rs 120-122 over the next few weeks.

He said that Ambuja still makes a lot of sense from a trading viewpoint.

During May 2009, Ambuja Cements posted a 9% growth in production at 16.40 lakh tonnes as against 14.94 lakh tonnes during the same period of the last year.

The company said that its despatches during the month stood at 16.38 lakh tonnes as compared to 15.13 lakh tonnes in May 2008.

For Jan-May, Ambuja Cements' production was 82.50 lakh tonnes as compared to 77.43 lakh tonnes in 2008. Its despatches in the period stood at 82.76 lakh tonnes as against 77.42 lakh tonnes in the same period last year.

Mr. AL Kapoor, Managing Director, Ambuja Cements said that cement is anticipating a reasonably good demand spurt, and the company should finish the first quarter of the existing fiscal with a demand growth of 10%. He added that South and Central India is witnessing strong advance in demand.