Holcim deal: Charts indicate up to 14% upside for ACC, Ambuja, Adani Ent

Adani Enterprises can rally up to 14 per cent; whereas ACC, and Ambuja Cements can gain another 10 per cent each, indicate charts

Shares of Ambuja Cement and ACC rallied up to 8 per cent on the BSE in Monday's intra-day trade after billionaire Gautam Adani won the race to acquire Swiss cement major Holcim's stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers.

The Adani group, through an offshore special-purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Holcim Ltd’s entire stake in two of India’s leading cement companies -- Ambuja Cements and ACC -- the Adani group said in a statement on Sunday.