ACC soars on plan to consider merger with Ambuja Cement

08 May 2017

ACC is currently trading at Rs. 1736.45, up by 81.15 points or 4.90% from its previous closing of Rs. 1655.30 on the BSE.

The scrip opened at Rs. 1680.35 and has touched a high and low of Rs. 1753.85 and Rs. 1680.35 respectively. So far 39467 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1753.85 on 08-May-2016 and a 52 week low of Rs. 1257.00 on 22-Nov-2016.

Last one week high and low of the scrip stood at Rs. 1753.85 and Rs. 1571.85 respectively. The current market cap of the company is Rs. 32626.16 crore.

The promoters holding in the company stood at 54.53%, while institutions and non-institutions held 31.09% and 14.38% respectively.

ACC has decided to explore the possibility of merging operations with Ambuja Cement. The company’s board has decided to commence an evaluation of a potential merger between the Company and Ambuja Cements with a view to combine the strengths of both businesses so as to benefit all stakeholders.

A special committee of directors, of which majority are independent directors has been constituted to commence the evaluation. As of now, no decision has been taken on the merger and the company will decide the same after receiving recommendations from the special committee and the audit committee.

ACC is India’s foremost manufacturer of cement and ready mixed concrete with a countrywide network of factories and sales offices.

ACC Share Price

1732.95 -68.65 (-3.81%) Feb 26, 18:55
1 Year Price Chart
Peers
Company Name CMP
Ultratech Cement 6114.60
ACC 1732.95
Shree Cement 26506.65
Ambuja Cement 273.65
Dalmia Bharat 1434.75
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Sensex vs ACC
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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