Rajiv Jain’s GQG raises stake in Ambuja Cements by 70 bps to 2.05% in September quarter

Rajiv Jain’s GQG Partners has significantly increased its stake in Ambuja Cements to 2.05% in Q3 2024. Despite the stock’s 31% annual return outperforming the Nifty index, Ambuja is expected to see a decline in revenue and profit in the latest quarter reported.