Ambuja gets stock exchange nod for ACC amalgamation scheme
AMBUJACEM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.8 pts less than Nifty 100 and 1.9 pts less than its Cement & Cement Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Ambuja Cements has received no adverse observations from BSE and no objection from NSE for the proposed amalgamation of ACC Limited with Ambuja Cements under sections 230-232 of the Companies Act. This clears a key regulatory hurdle. The scheme still needs NCLT approval, shareholder and creditor approval, and other regulatory clearances. The company must now file the scheme with NCLT within six months.
Positive step forward in the merger process; NCLT and shareholder approvals still needed. Removes a key regulatory concern.