New Delhi : HeidelbergCement India's stock rose by 4 pc on Monday following news of potential acquisition talks between Adani Group and Germany's Heidelberg Materials for their Indian operations. According to reports, billionaire Gautam Adani-led Ambuja Cements will spearhead the proposed acquisition of Heidelberg's India unit, which is estimated to be valued at around USD 1.2 billion (about Rs 10,000 crore). The company's stock on the BSE increased by 4.03 percent, reaching Rs 227.40 per share at the end of trading. It rose by 3.85 percent on the NSE to close at Rs 227.19 each.
Throughout the day, HeidelbergCement India stocks surged by 17.95 percent, reaching a peak of Rs 257.85 each on the BSE, which is its highest in 52 weeks. It reached a peak of 17.93 per cent at Rs 258 per share on the National Stock Exchange (NSE), marking its highest point in 52 weeks. 4.88 lakh shares of the company were exchanged on the BSE in terms of volume, while 1.78 crore shares were traded on the NSE throughout the day. Nevertheless, Ambuja Cements' stocks dropped by 3.30 pc to close at Rs 590.55 each on the NSE. It fell by 3.19 per cent on the BSE, closing at Rs 590.50 per share on the BSE. The BSE Sensex dropped 638.45 points to close at 81,050, representing a decrease of 0.78 percent, while the NSE Nifty fell 218.85 points to finish at 24,795.75, down by 0.87 percent.
HeidelbergCement AG made its presence in India in 2006 by acquiring former Mysore Cement, Cochin Cement, and establishing a joint venture with Indorama Cement. Following the restructuring and expansion, the installed capacity rose to 5.5 million tonnes. After acquiring Italcementi in 2016, the company's footprint in India has increased by over 100%. HeidelbergCement's website states that the company operates four cement plants, four grinding units, and a terminal. Its current capacity remains unchanged
FIRST Business Portal addressing the potential of business capability of North East Region.
