Cement Shares Price Today Shines On Stock Market
Cement Shares Price Today: Adani Group Chairman Gautam Adani’s decision to buy stake by Adani Cements in Holcim India’s Indian cement companies ACC and Ambuja Cements (ch) for $10.5 billion i.e. Rs 82,000 crore have taken. After this, there is a great rise in cement stocks in the stock exchange. The shares of all cement companies are rising.
Strong rise in cement stocks
After the announcement by Adani Cement to buy Holcim’s stake in ACC and Ambuja Cement, the stock of ACC is trading 4.95 per cent higher at Rs 2218. So Ambuja Cement is trading at Rs 366.70 with a gain of 2.20 percent. After this big acquisition deal, the shares of other cement companies are also rising.
Heidelberg Cement is trading up by 3.65 per cent at Rs 191.70, India Cements is trading at Rs 180 with a gain of 6.82 per cent. Mangalam Cement is up 2.24 percent at Rs 303.95, JK Laxmi Cement is up 1.49 percent and Birla Corporation’s share is trading at Rs 978 with a rise of 2.78 percent.
Shares fall after UltraTech lags
However, UltraTech Cement’s stock is seeing a fall of 2.15 per cent after Holcim’s Cements assets were lagging behind in buying. Shree Cement is trading at Rs 21,886 with a fall of 2.93 per cent.
stir in cement sector
Adani Cements will become the second largest cement company in the country after the acquisition of the Indian cement companies of Holcim India. The total production capacity of ACC and Ambuja Cements is 66 million tonnes per annum. After the acquisition, it will become the second largest cement company in the country. Aditya Birla Group’s cement company UltraTech Cement is the country’s largest cement producer with a production capacity of 120 million tonnes per annum.