Ambuja Cements and Heidelberg Cement India experienced notable stock gains after reports surfaced about Adani Group’s potential ₹10,000-crore acquisition of HeidelbergCement India and Zuari Cement. Ambuja’s shares rose over 1%, while HeidelbergCement India’s stock surged by 13%, reflecting investor optimism about the deal.
Ambuja Cements opened strong with a 1.4% increase, trading at ₹619.35, up from a previous close of ₹610.7. The stock has soared 42% over the past year, significantly outperforming the NSE Nifty 50’s 28% gain, boosting its market cap to ₹1.5 lakh crore.
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HeidelbergCement India’s shares also jumped, opening at ₹250, marking a 14% increase from the previous close. This boost reflects a positive response to the acquisition news, which aims to expand Ambuja’s production significantly.
The acquisition, as reported, could integrate HeidelbergCement India’s 14 million tonnes and Zuari Cement’s 7 million tonnes of production capacity into Ambuja, aiming to reach a target capacity of 140 million tonnes by 2028 for the Adani Group firm.
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The Indian cement sector is active with mergers and acquisitions, as major players like Ambuja and UltraTech Cement seek to expand by acquiring smaller entities. This strategy underlines the sector’s dynamic nature and Ambuja’s aggressive growth plans.
Concerns remain that the Adani Group may withdraw from the acquisition if a bidding war ensues. This comes amid interest from other major cement players, including UltraTech Cement and JSW Cement, who are also potential buyers for HeidelbergCement India’s operations.
