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3 months ago
BUZZ-India's Ambuja Cements hits 7-1/2-month high; to evaluate potential merger with ACC
May 8, 2017 / 4:31 AM / 3 months ago

BUZZ-India's Ambuja Cements hits 7-1/2-month high; to evaluate potential merger with ACC

** Shares of Ambuja Cements Ltd jump as much as 9.1 pct to their highest since Sept 21, 2016

** Boards of Ambuja Cements and ACC Ltd agreed to start evaluation of a potential merger between the two, the companies - which are both owned by Swiss-based LafargeHolcim Ltd - said in separate statements on Friday

** Ambuja posts biggest intraday pct gain since Nov 3, 2015

** About 4.6 mln Ambuja shares change hands compared with 30-day average of 2.7 mln shares

** ACC Ltd gains as much as 5.8 pct to its highest since March 4, 2015

** Both stocks were the top two gainers on the broader NSE index in early trade

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