Ambuja Cements declined 0.88% to Rs 359.95. The stock has fallen 2.51% in two sessions.
ACC lost 1.06% to Rs 2130.75. The stock has slipped 3.53% in two sessions.
The two counters started to witness some selling after media reports suggested that worlds largest cement maker, Holcim Group is planning to exit the Indian market. As a result, it has reportedly put its two listed firms, Ambuja Cements and ACC, up for sale.
As per the latest shareholding pattern (as on 31 March 2022), Holderind Investments (Holcim) held 63.19% stake in Ambuja Cements. In ACC, Holcim held 4.48% stake while Ambuja Cements held 50.05% stake.
As per reports, taking over Ambuja Cements and ACC will help succeed any player to evolve to the second position in the cement space. The combined pan India capacity will reportedly be around 66 million tonnes per annum.
According to a domestic brokerage report, the acquisition would be cumbersome and would be within the reach of only a few business groups. A promoter stake sale in Ambuja Cements would reportedly trigger an open offer in both, ACC and Ambuja Cements. The potential deal size could reportedly be $10-12 billion as per the brokerages estimates.
Powered by Capital Market – Live News
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.