Heidelbergcement India shares rose more than 16% in early trade on reports that Adani Group had started talks with Germany’s Heidelberg Materials to acquire its Indian cement operations.
According to a report by the Economic Times, the acquisition, which is currently in its early stages, would be led by Adani Group company Ambuja Cements and, if completed, may be valued at roughly $1.2 billion (Rs 10,000 crore).
As of 9:40 am, Heidelbergcement India shares were trading 15.28% higher at Rs 252.19 on the NSE.
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