Shares of Orient Cement (NSE: ORIENTCEM) surged nearly 3% in early trading today, currently trading at ₹362.35, up by ₹9.90 (+2.81%) as of 9:17 AM. The stock’s rise comes on the back of a significant announcement by Ambuja Cements, a part of the Adani Group, regarding the acquisition of a 45.7% stake in Orient Cement for ₹8,100 crore.
The acquisition is priced at ₹395.40 per share, triggering an open offer for an additional 26% stake from public shareholders. The market reacted positively to the news, with investors showing confidence in the strategic move that will significantly boost Orient Cement’s growth potential. The acquisition is set to increase Ambuja’s total cement capacity to 97.4 MTPA, with plans to exceed 100 MTPA by FY25.
The positive sentiment around the acquisition, coupled with the strong market outlook for cement demand, has contributed to the upward movement in Orient Cement’s stock price today. Investors are hopeful that this deal will enhance the company’s operational efficiencies and market positioning in key regions across India.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Please consult a financial advisor before making any investment decisions.
