Ambuja Cements is currently trading at Rs. 611.60, up by 1.95 points or 0.32% from its previous closing of Rs. 609.65 on the BSE.
The scrip opened at Rs. 597.55 and has touched a high and low of Rs. 615.30 and Rs. 593.20 respectively. So far 147922 shares were traded on the counter.
The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 640.95 on 04-Apr-2024 and a 52 week low of Rs. 373.30 on 21-Apr-2023.
Last one week high and low of the scrip stood at Rs. 634.60 and Rs. 593.20 respectively. The current market cap of the company is Rs. 133882.42 crore.
The promoters holding in the company stood at 63.19%, while Institutions and Non-Institutions held 27.70% and 9.13% respectively.
Ambuja Cements has signed definitive agreement to acquire My Home Group’s 1.5 MTPA Cement Grinding Unit in Tuticorin, Tamil Nadu. The acquisition estimated at a total value of Rs 413.75 crore through internal accruals will aid in enhancing the coastal footprint across southern markets of Tamil Nadu and Kerala. The total cement capacity of Adani Group stands at 78.9 MTPA. The asset spread across 61 acres of land, conveniently located near the Tuticorin Port with a long-term fly ash agreement will be value accretive from the beginning.
The company will leverage the coastal footprint and state-of-the-art marine infrastructure and equipment, ensuring that the best quality products are delivered. This acquisition provides access to the southern market customers with an opportunity to experience and instill their trust in one of the most iconic and trusted brands – Ambuja Cement. Furthermore, the limited availability of limestone in Tamil Nadu presents a unique competitive advantage with coastal movement of clinker from the Sanghipuram Plant ensuring cost-efficient operations.
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.