Its plants are some of … The BSE Sensex rallied 437.49 points or 0.95 per cent to 46,444.18. 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. Broking House Antique believes this announcement clears the overhang on both the … LafargeHolcim owns 63.6 per cent in Ambuja Cements. The resolution for the scheme of amalgamation between Holcim India and Ambuja Cements was passed through postal ballots with the majority of … Stocks in the news: YES Bank, Nestle India, TechM, Asian Paints and Reliance Power Read more: Cement stocks log in concrete gains. Ambuja Cements was set up in 1986. 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. Powered by Capital Market - Live News Sources say that the merger would mean an end of ACC, which is one of the oldest cement companies of the country. 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. In the last decade the company has grown tenfold. The total cement capacity of the company is 18.5 million tones. 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. Key domestic indices ended with strong gains on Wednesday, December 23, 2020, supported by buying in IT and pharma stocks. The merger, which would have potentially created India’s second largest cement maker, still remains the “ultimate objective”, the companies said. Emkay Global has buy call on Ambuja Cements with a target price of Rs 283. 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. 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.. Both ACC and Ambuja Cements became part of the Holcim group in 2005. 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. Gujarat-based Ambuja cement reported a revenue of Rs 2,922 crore and a net profit of Rs 246 crore in Q4 of 2017. 173m votes were placed against the merger. 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. 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. 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. 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. 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. India: Ambuja Cements announced on 21 November 2013 that shareholders had approved a proposal by Swiss parent firm Holcim to rejig its Indian cement units, winning 377m of the 550m votes placed (68.5%). HTL held 4.48% stake in ACC while its stake in Ambuja Cements was 63.27% as on 30 September 2020. January 01, 2021 on the same terms as the present TKH Agreement. 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