URL copied to clipboard

Trending News

Ambuja Cements Sees 2% Dip: Know What Triggered the ₹909 Crore Block Deal?

Ambuja Cements' shares fell 2% after a block deal of 1.5 crore shares worth ₹909 crore at ₹586 per share, representing 0.6% of the company's equity, was completed.
Ambuja Cements Sees 2% Dip: Know What Triggered the ₹909 Crore Block Deal?

Ambuja Cements saw a 2% dip in share price after a block deal involving 1.5 crore shares worth ₹909 crore was executed at ₹586 per share. The transaction, conducted at a slight discount to the previous session’s closing price, accounted for 0.6% of the company’s equity.

Alice Blue Image

Despite the recent dip, Ambuja Cements has gained over 31% in the past year, pushing its market capitalisation to ₹1.28 lakh crore. This rise has outperformed the NSE Nifty 50, which posted a 28% increase in the same period, showcasing strong investor confidence.

Also read: Hyundai Motor India IPO Day 2 LIVE: Key Details Inside

The Indian cement sector has been a hotspot for mergers and acquisitions. Both Ambuja Cements and UltraTech Cement have been acquiring smaller players, intensifying consolidation within the industry. The recent block deal may hint at further strategic moves within this dynamic sector.

As of 11:10 AM, Ambuja Cements’ shares were trading at ₹579.3 on the NSE, down 1.9%. Interest in Ambuja spiked recently, following reports that the Adani Group is in talks to acquire HeidelbergCement India and Zuari Cement, which could potentially increase Ambuja’s capacity.

Also read: South Indian Bank Shines: Q2 Growth, Shares up by 4%, Read!

If the acquisition materialises, it could add 21 million tonnes of production capacity to Ambuja Cements, bringing it closer to the Adani Group’s goal of reaching 140 million tonnes by 2028. This would significantly strengthen Ambuja’s position in the Indian cement market.

Alice Blue Image

In the September quarter, the Adani Group adjusted its holdings in several companies, reducing its stake in Ambuja Cements while increasing stakes in Adani Energy Solutions, Adani Enterprises, Adani Green Energy, and Adani Power, valuing these holdings at around ₹12,778 crore.

Loading
Read More News

यह ग्रीन एनर्जी स्टॉक खबरों में है क्योंकि कंपनी बोनस जारी करने पर विचार कर रही है। अधिक जानकारी प्राप्त करें!

KPI Green Energy Ltd 14 नवंबर को 2024 के दूसरे बोनस इश्यू पर चर्चा करेगी, जो पहले हुए बोनस शेयर

सोने और चांदी की कीमत में गिरावट: 24K सोना कमजोर मांग और मजबूत डॉलर के बीच ₹79,500 तक पहुंचा!

सोमवार के ताजा कारोबार में प्रमुख भारतीय शहरों में कमजोर मांग और मजबूत डॉलर के कारण सोने और चांदी की