Ambuja Cements hits new high; here's why stock has rallied 46% in 3 months

Shares of Ambuja Cements hit an all-time high of Rs 608.50, up 3 per cent on the BSE in Friday’s intra-day trade, amid the ongoing rally. The stock of Adani group company surpassed its previous high of Rs 598 registered on December 9, 2022. In past three months, the market price of Ambuja Cements has outperformed the market by surging 46 per cent, as compared to 11 per cent rise in the S&P BSE Sensex. The stock has recovered 88 per cent from its 52-week low of Rs 324.30 touched on February 28, 2023.