Ambuja Cements' stock zoomed 9.82 per cent to Rs 270.50 on BSE.
Shares of ACC climbed 5.95 per cent to Rs 1,753.85 -- its 52-week high.
ACC Ltd and Ambuja Cements -- the two Indian units of the world's largest cement producer LafargeHolcim -- have decided to explore merger between them, ending months of speculation.
The boards of the two companies, at their separate meetings on Friday, decided to commence an evaluation of a potential merger.
If the proposed merger goes through, the combined entity will have a turnover of over Rs 20,425 crore based on their respective revenues in 2016.
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