acc: ACC stocks in Ambuja may be affected by Adani’s open-offer

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The shares of and will likely underperform following the closing of the ongoing open market by Adani GroupCLSA is a foreign brokerage. AdaniOpened an offer to purchase a 26% stake in each of the shares AmbujaAfter purchasing majority shares in the companies from Switzerland, public shareholders can now get Cements and ACC Holcim Group.

The Hong Kong-based brokerage stated that the company sees greater opportunities elsewhere in this sector and that it will shift its focus post open offers.

According to CLSA, Dalmia Bharat and Dalmia Bharat were the preferred choices.

CLSA said that, “Given that the out-performance of the acquisition and its benefits will be back-ended,” they expect these stocks not to perform following the close-of-the-open-off and for the discount on large-cap peers and to widen.”

The open offer, which opened on July 6 and will close on July 19, has been priced at ₹2,300 for ACC and ₹385 for Ambuja.

Shares of ACC ended down 0.59% at ₹2,171.90 and Ambuja Cements ended up 0.4% at ₹370.65 on Tuesday.

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