BOM:500425

Ambuja Cements' Consolidated Profit Jumps in Fiscal Q4; Shares Fall 3%

Ambuja Cements' (NSE:AMBUJACEM, BOM:500425) consolidated attributable profit increased to 18.3 billion Indian rupees in the fiscal fourth quarter from 10.3 billion rupees a year ago, according to a filing to the Indian stock exchanges on Monday.Shares of the cement manufacturer were down nearly 3% in Tuesday's trade.Earnings per share during the quarter ended March 31 climbed to 7.37 rupees from 4.16 rupees a year earlier.Revenue from operations in fiscal Q4 also rose year on year to 108.9 billion rupees from 98.9 billion rupees a year earlier.The company's board recommended a final dividend of 2 rupees per share for the financial year ended March 31. The dividend will be paid on or after July 1 to shareholders of record on June 12, the filing said.

Bondada Engineering Secures New Orders Worth INR1.25 Billion

Bondada Engineering (BOM:543971) has secured multiple orders totaling 1.25 billion Indian rupees for the supply of goods and on-site services for balance-of-system components for a 75 MW solar power project at Khavda in Gujarat, India.The orders have been received from Adani Green Energy (NSE:ADANIGREEN, BOM:541450), Adani Ports & SEZ (NSE:ADANIPORTS, BOM:532921), and Ambuja Cements (NSE:AMBUJACEM, BOM:500425).The contracts will be executed in three months.With this, the company's cumulative capacity executed for Adani Group has reached 725 MW.The company's shares were up over 1% in recent trade.

Nomura Adjusts Ambuja Cements' Price Target to INR540 from INR600, Keeps at Buy