Ambuja Cements Stock Price Today Live: Ambuja Cements to acquire Penna Cement for ₹10,422 cr, shares up

Ambuja Cements Share/Stock Price Today Live Updates: Shares of Ambuja Cements hit a new high on Friday’s trade following the acquisition of Penna Cement. The Adani Group company on June 13 announced the signing of a binding agreement for the acquisition of Penna Cement Industries Ltd (PCIL) at ₹10,422 crore. According to the stock exchange filing, Ambuja will acquire 100 per cent shares of PCIL from its existing promoter group, P Pratap Reddy and family. The acquisition will be fully funded through internal accruals. The acquisition has attracted mixed reactions from brokerages, including global. Nuvama Institutional Equities stands with Ambuja Cements for its healthy capex plans and measures to lift cost efficiency. The brokerage has maintained ‘buy’ call on the stock with a target price of ₹767 on FY26E EV/EBITDA of 18x. The shares were up by 2.30% to ₹679.55 on the BSE and by 2.58% to ₹679 on the NSE at 10.40 am.