Ambuja Cements shares rose up to 8% today
ACC stock opened higher at Rs 2149 against the previous close of Rs 2113.70. It touched an intra-day high of Rs 2,288, rising 8.25 percent on BSE.
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Shares of ACC Ltd and Ambuja Cements gained up to 8 per cent today after the Adani Group won the race to acquire India business of Swiss firm Holcim for $10.5 billion (Rs 81,361 crore). Holcim holds 63.19 per cent stake in Ambuja Cements and 4.48 per cent in ACC. Ambuja Cements, in turn, owns 50.05 per cent in ACC.
ACC stock opened higher at Rs 2149 against the previous close of Rs 2113.70. It touched an intra-day high of Rs 2,288, rising 8.25 percent on BSE. Market cap of the firm rose to Rs 42,158 crore. A total of 1.90 lakh shares of the firm changed hands amounting to a turnover of Rs 42.77 crore .
The stock has gained 20.72 per cent in a year and climbed 2.19 per cent in 2022. ACC stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
On the other hand, shares of Ambuja Cements climbed up to 5.21 per cent to Rs 377.5 against the previous close of Rs 358.80 on BSE.
The stock opened with a gain of 3.12 per cent at Rs 370 today. The cement stock trades higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages. Market cap of the firm rose to Rs 73,776 crore. A total of 8.12 lakh shares of the firm changed hands amounting to a turnover of Rs 29.91 crore on BSE.
The stock has gained 21.27 per cent in a year but fallen 1.39 percent in 2022.
Adani Group said that it had entered into definitive agreements for the acquisition of Switzerland-based Holcim Ltd's entire stake in two of India's leading cement companies - Ambuja Cements Ltd and ACC Ltd. The value for the Holcim stake and open offer consideration for Ambuja Cements and ACC is $10.5 billion.
The deal will make Adani group the second-largest player in India's cement industry. UltraTech Cement, a part of Aditya Birla Group, is the market leader in the industry.
