Read desk. Adani Group's company- Ambuja Cement has completed 37.8 percent stake of promoters in CK Birla Group's Orient Cement Limited (OCL). With this, Ambuja Cement, owned by Adani Group, has now become the promoter of OCL. Ambuja Cement has also won 1.82 crore or 8.87 percent shares from public shareholders of OCL. Together, the total stake of Ambuja Cement in OCL has increased to 46.66 percent.

Orient Cement told the stock market- Ambuja has completed the company's 7,76,49,413 equity shares (37.79 percent of equity share capital) from the promoter group. Let us know that Ambuja Cement had announced the acquisition of OCL on the evaluation of Rs 8,100 crore under its expansion campaign in October last year. Orient Cement has three manufacturing plants in Telangana, Karnataka and Maharashtra.

One and a half percent decline in share

Talking about the shares of Orient Cement on the second day of the week i.e. Tuesday, it was lost 1.49% to close at Rs 354.75. Ambuja Cement shares stayed slightly at Rs 578.65 with a slight decline.

Cement prices may increase

In the midst of this acquisition, cement prices are expected to increase by 2-4 percent in the current financial year. This will help companies to increase the receipt of their sales. This is estimated in a report by rating agency Crisil.

The rating agency hopes that cement demand will increase from 6.5 to 7.5 percent in the current financial year, which will be inspired by the increase in budgetary allocation in view of main infrastructure, rural housing projects and more monsoon than normal. According to Crisil, competition for market share is still tight, but we estimate that a slight price of 2-4 percent will increase as companies are focusing on improving their receipts.