indiabusinessview (https://indiabusinessview.com/tag/ambuja_cements/)
The stock market verdict on Holcim’s restructuring of its India is an unequivocal thumbs-down. Both Ambuja Cements and ACC are down on Thursday, a day after the merger was announced. Ambuja Cements took a bigger hit and fell by 10.5% while ACC was down by 3%.
A merger of Ambuja Cements and ACC has been long speculated upon, since both are owned by the same parent company Holcim. On July 24, Ambuja Cements declared its results and also announced a rather complex restructuring to bring ACC into its fold.
The Holcim group-owned cement company sold 5.8% more cement in the quarter than it did in the previous corresponding period. Exports went up by 44%, contributing to 0.28mn tonnes of the 5.1mn tonnes sold during the quarter.