North News
Chandigarh,22nd August
Ambuja Cements’ share price jumped over 4% in early trading on the BSE on Friday, August 23, reaching ₹659.70 following reports of a promoter-led stake sale. According to The Financial Express, The stock opened higher at ₹654, up from its previous close of ₹632.90, and surged 4.23% in response to the news that the Adani Group, a major stakeholder, was selling approximately 3% of its stake through a block deal. This transaction is expected to raise up to $500 million, around ₹4,197 crore.
The stock has shown impressive performance over the past year, increasing by nearly 37%, despite challenges in Q1FY25 where revenue and profit saw year-on-year declines of 4.61% and 28.63%, respectively. Ambuja Cement’s share price continues to reflect positive momentum, showcasing a 43.41% surge year-to-date, reinforcing its growth potential and investor appeal.
