ITD Cementation

Group entity will acquire 46.64% in EPC firm, triggering an open offer

ITD Cementation had announced on July 3, 2024, that its promoter Italian Thai Development (ITD) Public Company Limited is exploring a potential divestment of its investments in the company.

On July 3,Italian Thai Development Public Company, the Promoter shareholder of the company, informed that they are exploring a potential possible divestment of their investments in ITD Cementation

Acquisition in ITD Cementation India would strengthen Adani Group's civil engineering capabilities

The uptick in the share price came after the company announced a strong set of Q1FY25 results.

The uptick in share price came after the company announced that it has secured an order worth Rs 1,237 crore.

ITD Cementation promoter stake: At the end of the March quarter, Italian-Thai Development Public Company held a 46.64 per cent stake in ITD Cementation. The stock of ITD Cementation is up 101% YTD

Shares of civil construction firm ITD Cementation India soared up to 3.66 per cent at Rs 537 per share, hitting its 52-week high on the BSE in Thursday's intraday trade

So far in the financial year 2023-24, the stock price of the company has more-than-doubled or zoomed 136 per cent

ITD, which was quoting lower for the seventh straight day, have plunged 33 per cent during the period.

The stock rallied 11% to Rs 160 on the BSE in early morning trade.