Cement stocks in focus: Why JP Morgan believes emergence of cash-rich Ambuja Cement negative for peers – Check Details
Adani Group last week mentioned that they have completed the acquisition of Ambuja Cement and ACC. Shares of the former company hit a new life high and surged nearly 11 per cent, while the latter gained over 4 per cent on the BSE.
As per JP Morgan, Ambuja would become a more cash-rich company in the sector after warrant issuance: Reuters.