Shares of ACC and Ambuja Cements rose 0.44% to 0.91% at 9:18 IST on BSE after CCI on 22 November 2014, invited comments from any person(s) adversely affected or likely to be affected by the proposed combination between Holcim and Lafarge S.A.
Ambuja Cements (up 0.91%) and ACC (up 0.44%) edged higher.
Meanwhile, the S&P BSE Sensex was up 142.55 points or 0.5% at 28,477.18.
The Competition Commission of India (CCI) on Saturday, 22 November 2014, invited comments from any person(s) adversely affected or likely to be affected by the proposed combination between Holcim and Lafarge S.A. Swiss cement major Holcim and French cement major Lafarge have announced a merger at the global level to form LafargeHolcim. In India, Holcim is active through its two subsidiaries viz. ACC and Ambuja Cements. Lafarge is active in India through its two unlisted subsidiaries viz. Lafarge India and Lafarge Aggregates & Concrete India. The CCI has formed a prima facie opinion that the combination is likely to have an appreciable adverse effect on competition in India.
Holcim held 50.39% stake in Ambuja Cements (as per the shareholding pattern as on 30 September 2014).
Ambuja Cements' net profit surged 44% to Rs 239.06 crore on 9.2% growth in net sales to Rs 2187.55 crore in Q3 September 2014 over Q3 September 2013.
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Ambuja Cements is engaged in manufacturing and marketing cement and clinker for both domestic and exports markets.
Holcim held 50.3% stake in ACC (as per the shareholding pattern as on 30 September 2014).
ACC's consolidated net profit surged 62% to Rs 192.60 crore on 9.4% growth in net sales to Rs 2741.87 crore in Q3 September 2014 over Q3 September 2013.
ACC is a manufacturer of cement and ready mixed concrete with a countrywide network of factories and sales offices.
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