- By Aditya Pratap Singh
- Fri, 23 Aug 2024 10:53 AM (IST)
- Source:JND
Ambuja Cement Block Deal: Adani Group's Ambuja Cements stock opened at Rs 654 on Friday, up 4.23 percent from its previous close of Rs 632.90. This surge is followed by news that the promoters selling some stake through a block deal.
According to media reports, as per the terms of the transaction, Adani Group intends to sell about 3 percent of its stake in Ambuja Cements through a block deal on Friday to raise $500 million, or about Rs 4,197 crore. According to shareholding pattern data, Adani Group had a 70.33 percent stake in Ambuja Cements at the end of the June 2024 quarter.
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On the other hand, according to a Moneycontrol report, about 6.8 crore shares representing a 2.76 percent stake in the cement company were exchanged at a floor price of Rs 625.5 per share. However, the parties involved in this transaction could not be immediately ascertained. At around 9:47 am, the stock was trading 2 percent higher at ₹644.60.
Ambuja Cement Share Price History
This year, the stock has given a return of more than 20 percent. It has climbed about 42 percent in a year. Its 52-week high is Rs 706.95 and low is Rs 404.05.
Among the Adani group, shares ACC was trading at 0.42 percent down at 2338.85 percent. Adani Enterprises had a marginal gain of 0.031 percent, Adani Green Energy was trading 1.42 percent higher and Adani Power was trading 1.36 percent higher. NDTV, Adani Wilmar, and Adani Port had marginal gains. While, Adani, Adani Energy Solution was in the red mark.
Disclaimer: This is a piece of news on the performance of shares only. Please do take expert advice before investing.
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