January 01, 2021 on the same terms as the present TKH Agreement. Stocks in the news: YES Bank, Nestle India, TechM, Asian Paints and Reliance Power In the last decade the company has grown tenfold. Following the merger of Holcim Limited with Lafarge SA in 2015, a new entity LafargeHolcim was created to become the world’s largest cement producer. Sources say that the merger would mean an end of ACC, which is one of the oldest cement companies of the country. 173m votes were placed against the merger. Shares of Ambuja traded 4.53 percent higher at Rs 248.10 while those of ACC were 2.86 percent up at Rs 1624.75 at 1100 hours on BSE. The current market price of Ambuja Cements Ltd. is Rs 246.75. Powered by Capital Market - Live News Read more: Cement stocks log in concrete gains. The merger, which would have potentially created India’s second largest cement maker, still remains the “ultimate objective”, the companies said. HTL held 4.48% stake in ACC while its stake in Ambuja Cements was 63.27% as on 30 September 2020. Mumbai: In a board meeting yesterday, ACC/Ambuja announced renewal of Technical Know-how fees (TKH) to parent at 1% of net sales for next 2 years, w.e.f. The resolution for the scheme of amalgamation between Holcim India and Ambuja Cements was passed through postal ballots with the majority of … Here are the stocks to watch in trade today: ACC & Ambuja Cement: The Board of Directors of Ambuja Cements has approved the renewal of the current Technology and Know-How Agreement with Holcim Technology under which the company pays TKH fees at 1% of net sales each year, to HTL, for a period of 2 years w.e.f. Key domestic indices ended with strong gains on Wednesday, December 23, 2020, supported by buying in IT and pharma stocks. Both ACC and Ambuja Cements became part of the Holcim group in 2005. Analysts remained bullish on ACC Ltd. and Ambuja Cements Ltd. as they expect the cement makers’ move to renew their existing royalty pact with Holcim Technology to remove a key overhang from the stock prices.. Ambuja Cements was set up in 1986. January 01, 2021.The agreement is renewed on the same terms and conditions as exists in the current ongoing agreement which expires in December 2020. Ambuja Cements Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 49462.42 Crore) operating in Cement sector. In June 2016, Ambuja had bought Holcim India’s 24 per cent stake in ACC, which resulted in the latter becoming Ambuja’s subsidiary with a 50.05 per cent stake. On a year-to-date (YTD) basis, the benchmark S&P BSE Sensex has added 13.43% while ACC and Ambuja Cements have gained 13.39% and 27.66%, respectively. ACC Ltd and Ambuja Cements Ltd, both controlled by LafargeHolcim Ltd, said they were putting on hold their proposed merger, citing constraints related to transfer of mines under current laws. Its plants are some of … Gujarat-based Ambuja cement reported a revenue of Rs 2,922 crore and a net profit of Rs 246 crore in Q4 of 2017. The total cement capacity of the company is 18.5 million tones. Under the agreement, the companies will pay a technology and know-how agreement fee at 1% of net sales each year to Holcim, according to their exchange filings. LafargeHolcim owns 63.6 per cent in Ambuja Cements. Ambuja Cements Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 50355.96 Crore) operating in Cement sector. Broking House Antique believes this announcement clears the overhang on both the … The BSE Sensex rallied 437.49 points or 0.95 per cent to 46,444.18. Emkay Global has buy call on Ambuja Cements with a target price of Rs 283. 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