Merger Buzz Pushes ACC To Fresh 52-Week High

As the merger talks between the two big cement companies of the country ACC and Ambuja Cements are in the market, the stocks of both the companies on Monday witnessed an upward rally in the morning session on NSE and BSE.

The stock of Ambuja Cements hit a high of Rs 266.65 per share in the morning session, whereas ACC hit a 52-week high at Rs 1756.70 on the NSE.

Ambuja Cements is trading up by 5.3% at Rs 259.80 per share and ACC is up by 4.3% at Rs 1732 per share at 09:32 AM IST on NSE.

On the BSE, Ambuja Cements is trading up by 7.4% at Rs 264, whereas ACC is up by 4.9% at Rs 1737 per share.

The Ambuja Cements has hit a high of Rs 266.40 per share so far and ACC has traded on a new 52-week high value at Rs 1753.85 per share.

According to analysts, the two stocks may see upward rally in the coming days to come as both the companies have already enough business activities and they don’t need to expand anymore. These companies may also benefit from various schemes launched by the central government such as 'Housing for All'.

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About Suhani Varma

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