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Ambuja Cements rises as its board approves Adani Cementation's merger with company

28 Jun 2024 Evaluate

Ambuja Cements is currently trading at Rs. 666.90, up by 6.35 points or 0.96% from its previous closing of Rs. 660.55 on the BSE.

The scrip opened at Rs. 668.25 and has touched a high and low of Rs. 669.90 and Rs. 660.00 respectively. So far 55788 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 690.00 on 14-Jun-2024 and a 52 week low of Rs. 404.00 on 01-Nov-2023.

Last one week high and low of the scrip stood at Rs. 677.00 and Rs. 643.60 respectively. The current market cap of the company is Rs. 164265.70 crore.

The promoters holding in the company stood at 66.74%, while Institutions and Non-Institutions held 25.57% and 7.69% respectively.

Ambuja Cements has received approval from Board of Directors to merge Adani Cementation, a subsidiary of Adani Enterprises, with the Company. This move will transform Adani Cementation into a wholly-owned subsidiary of Ambuja Cements. The merger aims at enhancing operational efficiency and strengthening Ambuja Cements' coastal footprint through a share swap deal, where Adani Enterprises will receive 8.7 million shares of Ambuja Cements.

This strategic consolidation focuses on maximizing synergies and boosting capacity, particularly aligning with the high-growth markets of South Gujarat and Mumbai. Furthermore, it underscores Adani Group's expansive ambitions in the cement sector, seeking to achieve a capacity of 140 MTPA by 2028.

The Board of Directors of Ambuja Cements in its meeting held on June 27, 2024 has considered and approved the same. 

Ambuja Cements is engaged in manufacturing and marketing of cement and clinker for both domestic and export markets. It is a material company of Adani Cement and part of the diversified Adani Group.

Ambuja Cement Share Price

454.50 -4.45 (-0.97%)
20-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Ultratech Cement 11911.30
Ambuja Cement 454.50
ACC 1429.55
Shree Cement 25461.55
Dalmia Bharat 1979.45
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