India's Ambuja Cements to buy 46.8% stake in Orient Cement at $964 mln valuation
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 22 2024
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Source: Reuters
Acquisition Announcement: India's Ambuja Cements announced it will acquire a 46.8% stake in Orient Cement, valuing the latter at 81 billion rupees ($963.5 million).
Financial Context: The acquisition reflects Ambuja Cements' strategic expansion in the cement industry, with the exchange rate noted as $1 equaling 84.0725 Indian rupees.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
