Shares of Adani Enterprises, ACC and Ambuja Cements rise over 10 percent today on the back of acquisition of Ambuja Cements and its subsidiary ACC Ltd.
Shares of Adani Enterprises, ACC Cement and Ambuja Cement rise 10 percent today. Adani Group on Friday acquired Ambuja Cements and its subsidiary ACC Ltd from Switzerland’s Holcim Group for Rs 6.4 billion. Adani’s ACC Cement is the second largest cement company in India after Aditya Birla Group’s Ultratech Cement. After this, the shares rose by 10 percent
The first T20 match between India and Australia will be played today at Punjab Cricket Association is Bindra Stadium in Mohali. This series, which is being played as a preparatory campaign for the T20 World Cup starting next month, is important for both the teams. Rohit Sharma’s team is known to be strong at home.
Therefore, it remains to be seen how India will perform against Australia, the last T20 World Cup champion. Meanwhile, captain Rohit Sharma is on the threshold of a world record.
Shares of Ambuja Cements touched a record high of Rs 567.9, up 9.99 per cent from the previous close of Rs 516.30 on the BSE, boosted by the acquisition completion. Ambuja Cements stock is trading above average. The stock has gained 32.52 percent in one year and has gained 47.42 percent in 2022. The stock has gained 32.49 percent in one month.
99.82 crore was traded on BSE. Additionally, Adani Group will infuse Rs 20,000 crore into Ambuja Cements through preferential allotment of shares, reports said.
Also Read: India vs Australia 1st T20 today
The Adani family has completed the acquisition of Ambuja Cements and ACC, the country’s second largest cement company. Adani’s share in ACC is now 56.7% while in Ambuja it is 63.2%. After the acquisition, both the companies have changed their management and boards and announced a change in financial year from January-December to April-March.