Shares of ITD Cementation India Ltd jumped 20% in intra-day trade upon news of a potential acquisition by Adani Group of a 46.64% stake. The BSE and NSE both saw the stock hit the upper circuit limit.
By this deal Gautam Adani's group has taken a strategic step to expand its business in India's growing engineering sector.
At current market value, a successful deal would be pegged at 5,888.57 crore ($700 million), inclusive of a fully subscribed ...