Page 29 - Acc News Today

​"Pursuant to Regulation 30 of the Listing Regulations read with Part A of Schedule Ill of the Listing Regulations, we hereby inform you that ACC Limited at its Board Meeting concluded on 08 th January 2024 has agreed to acquire Asian Concretes and Cements Private Limited," the cement company said in an exchange filing.

ACC Ltd. key Products/Revenue Segments include Cement, Ready Mix Concrete, Other Operating Revenue, Scrap for the year ending 31-Dec-2021.

The company stated that the complete acquisition will bolster the market leadership of ACC as well as Ambuja Cements in the North India market. 

ACC has done a "successful acquisition of 55 per cent stake in ACCPL (Asian Concretes and Cements Pvt Ltd) from its existing promoter at an enterprise value of Rs 775 crore resulting in entire ownership of ACCPL

The entire acquisition is funded through internal accruals and will help ACC & its parent company Ambuja to further bolster market leadership, said ACC in an exchange filing

ACC acquires Asian Concrete and Cements

The Appointments Committee of the Cabinet (ACC) on Friday approved the appointment of Pandian, a 2002 IAS officer of the Uttar Pradesh cadre, for three years from the date of assumption of charge. Pandian is currently posted as commissioner, excise in Uttar Pradesh. His appointment comes at a time when the world is witnessing inflation, high interest rates and geopolitical tensions.

A total of 27,842 shares changed hands on the counter till 10:15AM (IST)

The stock traded at a P/E multiple of 35.32, while the price-to-book value ratio stood at 2.22.

PUTRAJAYA: Graft investigators have initiated an initial probe into claims of alleged misuse of RM700mil that was spent for promotions and publicity by the two previous Federal governments between 2020 and 2022.