According to statistics from the BSE, Ambuja Cements was ranked 100th overall by market cap with a value of Rs 1.05 trillion. In intraday trading, shares of the cement manufacturer rose 1% on the market to a new all-time high of Rs 531.70.
The market capitalization of Eicher Motors, meanwhile, reached Rs 1.01 trillion during the intraday session as the company’s stock price reached a new high of Rs 3,670.90, up 4% on the BSE. The S&P BSE Sensex, in contrast, was down 0.39 % at 60,112 points at 12:30 PM.
In comparison to the benchmark index, which had increases of 1% apiece over the same time periods, the Ambuja Cements stock has increased 14% over the last week and 37% over the past month.
The Ambuja Cements board of directors is expected to meet on Friday, September 16, 2022, to discuss and assess a proposal for raising money through the issuance of equity shares, convertibles, and/or any other eligible securities, on a rights/preferential basis, or any other permissible mode, and/or a combination thereof, as may be considered appropriate.
The open offer by the Adani family to purchase a further 26% share in ACC and Ambuja Cements expired on September 9, 2022. The Adani family purchased 63 % of Ambuja Cements from Swiss cement giant Holcim, prompting the necessary open proposals in cash to be made. 54.53 % of ACC is owned by Ambuja Cements.
While everything was going on, Eicher Motors also outpaced the market, rising 7% in the last week and 14% in the previous month. Additionally, compared to Sensex’s 8% growth during the last six months, it has increased by 60%.
Globally, the middleweight motorcycle market is led by Eicher Motors, the parent company of Royal Enfield (RE) (250cc – 750cc). Additionally, Eicher Motors holds a controlling interest in the joint venture between AB Volvo of Sweden and VE Commercial Vehicles (VECV).
IIFL Customer Care Number 
IIFL Capital Services Support WhatsApp Number
