India's Ambuja Cements climbs; brokerages cite cost savings
BUZZ-India's Ambuja Cements climbs; brokerages cite cost savings ** India's Ambuja Cements ABUJ.NS rises 2.3% to 435.6 rupees
** Brokerages say co's cost savings helped broadly offset weak Q1 volumes
** ABUJ's Q1 profit had fallen 37% Y/Y
** Jefferies, Nomura, Systematix maintain "buy" rating, Citi maintains "neutral"
** Co's sequential EBITDA per tonne recovery was best among peers, reflecting progress on cost initiatives, while management reiterated its value-over-volume strategy - Jefferies
** Cost discipline drove a Q1 EBITDA beat despite operational challenges - Nomura
** Structural cost initiatives and management's reiterated cost-reduction roadmap support medium-term margin improvement - Systematix
** Lower costs drove sequential margin improvement, but remaining cautious on capacity growth, volume and pricing - Citi
(Reporting by Aleef Jahan in Bengaluru)
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