Ambuja Cement gains nearly 6% on reports of merger with ACC

ACC also rose over 5% to Rs 1,500 on the merger reports

Ambuja Cements gained as much as 5.8% to Rs 242.65 during intra-day on reports of LafargeHolcim mulling merger of ACC and Ambuja Cements.

ACC also rose over 5% to Rs 1,500 on the reports despite its consolidated net profit sliding 44.98% to Rs 56.34 crore on 6.13% fall in total income to Rs 2751.57 crore in Q4 December 2016 over Q4 December 2015.
 
LafargeHolcim holds a 63% stake in Ambuja Cements and 50% stake in ACC. The merger had been on cards since 2013. 
 
Meanwhile, BSE today has sought clarification from Ambuja Cements Ltd on February 06,