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Guj Ambuja: A long-term bet
K Seshadri
Cement scrips should be of interest to long-term investors. As the infrastructure industry takes off over the next three years, the cement scrips are expected to do better. The strength of ACC has baffled many a market watcher. It is only now that ACC is giving way under the bear sentiment. But take a look at Gujarat Ambuja, which has set benchmarks for energy efficiency. This has been comparatively lukewarm. Acquisition plans can get analysts worried, but I believe Gujarat Ambuja knows its onions, even when it goes about making acquisitions. On the other hand, you cannot blame the Indian investor who have seen too many promoters outraging the them. Currently, Gujarat Ambuja's claim to attention is the resistance that the scrip has been putting for going down. A recent low has been Rs 206.50 and it bounced to Rs 233. Long-term investors should consider investing between the current price and Rs 215. It is not a speculator's delight as a strong hand plays a counter card here to frustrate all speculators.But that should not stop the long-term investor.Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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