Ambuja Cement Secures Limestone Resource In Maha

Ambuja Cement was the top Nifty gainer during the morning hours on Tuesday. The stock was trading higher by 1.8% at Rs 251.9 per share as of 0927 hours.

Ambuja Cements had participated in a state e-auction tender for limestone block for Nandgaon Ekodi Limestone block in Chandrapur district of Maharashtra. The company has secured an estimated limestone resource of 42 million tonnes at a final bid price of 125.05% of the value of mineral dispatched.

The company is expecting a formal communication from the Government of Maharashtra vesting the said block in its favour shortly.

Meanwhile, Nifty was trading higher by 10 points at 9,625 level and Sensex was trading higher by 38 points at 31,260 level. Reliance Industries and ICICI Bank were the top contributors to the gains of Nifty and Sensex.

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