Shares of Ambuja Cements gained over 2% on Tuesday, bucking the subdued trend in the broader market, as investors reacted to the company’s sweeping consolidation plan to bring ACC and Orient Cement under a single platform.
The stock opened firm and held its momentum, signalling that the Street is clearly buying into the long-term strategic repositioning that the Adani Group is attempting in its cement business.
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The rally is driven almost entirely by Ambuja’s board approving two schemes of amalgamation that will merge ACC Ltd and Orient Cement Ltd with Amb
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