Why Jefferies predicts 53% upside for this Adani-Group stock after strategy shift

The global brokerage firm Jefferies has maintained a 'Buy' rating on Ambuja Cements with a price target of Rs 735, implying a 53% upside. The call follows a strategic shift within the Adani Group firm, pivoting from aggressive capacity expansion to operational profitability and the successful turnaround of the Sanghipuram plant. While rising petcoke prices pose a near-term risk, analysts remain bullish on the stock's long-term execution and margin recovery.