Adani's Ambuja Cements to Merge ACC, Orient

Ambuja Cements, a company owned by the Adani Group, is merging its two subsidiaries, ACC and Orient Cement, into itself.

This means that ACC and Orient Cement will no longer exist as separate companies, and their shares will be converted into Ambuja Cements shares.

The merger is expected to make the company stronger and more efficient.

It will also help Ambuja Cements increase its cement production capacity from 107 million tonnes per year to 155 million tonnes per year by the financial year 2028.

The merger is expected to be completed within 12 months, but it needs approval from shareholders, creditors, and regulators.

The stock market has reacted positively to the news, with Ambuja Cements' shares rising by 4.3% at one point.

Analysts believe that the merger will simplify the company's structure, reduce costs, and improve its bargaining power with suppliers and logistics partners.