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In a regulatory filing, Ambuja said its board has approved schemes to amalgamate ACC and Orient Cement into Ambuja Cements. The move will create a single pan-India cement platform. The transaction is subject to regulatory and shareholder approvals and is expected to be completed within one year.
Under the proposed share swap, Ambuja will issue 328 equity shares of face value Rs 2 each for every 100 ACC shares of face value Rs 10 each. Orient Cement shareholders will receive 33 Ambuja shares of face value Rs 2 each for every 100 shares of Orient Cement with face value Re 1.
The company said the merger will improve operational efficiency by optimising manufacturing and logistics networks. It is also expected to simplify the corporate structure and enable better capital allocation. Ambuja estimates cost optimisation and margin improvement of at least Rs 100 per metric tonne from the merger.
Karan Adani, non-executive director of Ambuja Cements, said the consolidation will strengthen scale, efficiency and long-term competitiveness of the cement business.
Post-amalgamation, Ambuja aims to support its expansion plan to raise cement capacity from about 107 MTPA to 155 MTPA by FY28. The company added that the Ambuja and ACC brands will continue to operate independently in their respective markets.
Ambuja Cements is the world's ninth-largest building materials solutions company and part of the Adani Group. It has a cement capacity of about 107 MTPA, supported by 24 integrated plants and 22 grinding units across India. The company is investing in decarbonisation initiatives, including 1 GW of renewable energy and 376 MW of waste heat recovery systems planned by FY28.
Ambuja Cements Ltd, Rites Ltd, Alok Industries Ltd, Jupiter Wagons Ltd are among the other stocks to see a surge in volumes on BSE today, 23 December 2025.
Thermax Ltd recorded volume of 1 lakh shares by 10:46 IST on BSE, a 22.95 times surge over two-week average daily volume of 4378 shares. The stock gained 0.35% to Rs.2,887.00. Volumes stood at 4605 shares in the last session.
Ambuja Cements Ltd clocked volume of 4.09 lakh shares by 10:46 IST on BSE, a 10.86 times surge over two-week average daily volume of 37671 shares. The stock gained 2.06% to Rs.551.15. Volumes stood at 36124 shares in the last session.
Rites Ltd registered volume of 2.01 lakh shares by 10:46 IST on BSE, a 6.9 fold spurt over two-week average daily volume of 29128 shares. The stock rose 3.16% to Rs.240.00. Volumes stood at 68246 shares in the last session.
Alok Industries Ltd witnessed volume of 18.87 lakh shares by 10:46 IST on BSE, a 6.79 times surge over two-week average daily volume of 2.78 lakh shares. The stock increased 5.66% to Rs.16.98. Volumes stood at 2.68 lakh shares in the last session.
Jupiter Wagons Ltd registered volume of 50.7 lakh shares by 10:46 IST on BSE, a 6.15 fold spurt over two-week average daily volume of 8.25 lakh shares. The stock rose 9.08% to Rs.338.80. Volumes stood at 67.34 lakh shares in the last session.
Media, metal and FMCG shares advanced and IT, PSU Bank and Pharma stocks declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex declined 42.64 points or 0.05% to 85,524.84. The Nifty 50 index gained 4.75 points or 0.02% to 26,177.15.
In the broader market, the S&P BSE Mid-Cap index surged 0.38% and the S&P BSE Small-Cap index rose 0.08%.
The market breadth was positive. On the BSE, 2,293 shares rose and 1,889 shares fell. A total of 200 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 3.07% to 9.38.
IPO Update:
Gujarat Kidney and Super Speciality received bids for 3,38,15,808 shares as against 1,32,26,880 shares on offer, according to stock exchange data at 15:30 IST on Tuesday (23 December 2025). The issue was subscribed 2.56 times. The issue opened for bidding on 22 December 2025 and it will close on 24 December 2025. The price band of the IPO is fixed between Rs 108 and 114 per share.
New Listing:
Shares of KSH International ended at Rs 354.55, representing a discount of 7.67% as compared with the issue price of Rs 384.
The stock debuted at Rs 370 on the BSE, exhibiting a discount of 3.65% over the issue price.
The stock has hit a high of 370 and a low of 350.05. On the BSE, over 5.72 lakh shares of the company were traded in the counter.
Economy:
The combined Index of Eight Core Industries (ICI) increased by 1.8% (provisional) in November, 2025 as compared to the Index in November, 2024. The production of Cement, Steel, Fertilizer and Coal recorded positive growth in November, 2025.
Coal production rose 2.1% in November 2025 compared with November 2024. Crude oil output declined 3.2% year-on-year, while natural gas production fell 2.5% during the same period. Petroleum refinery production also slipped 0.9% in November 2025 over a year ago.
Steel production increased 6.1% year-on-year, cement output surged 14.5%, while electricity generation declined 2.2% in November 2025 compared with November 2024. Fertilizer production increased by 5.6% YoY in November 2025.
Buzzing Index:
The Nifty Media index climbed 0.80% to 1,413.60. The index jumped 1.46% for the four consecutive trading sessions.
Nazara Technologies (up 5.25%), Network 18 Media & Investments (up 3.71%), Hathway Cable & Datacom (up 1.83%), Sun TV Network (up 1.8%), Prime Focus (up 1.59%) and D B Corp (up 0.81%) advanced.
Stocks in Spotlight:
Shares of ACC slipped 1.21%, while Ambuja Cements climbed 1.25% and Orient Cement surged 4.18% after Ambuja Cements announced a major consolidation plan.
In a regulatory filing, Ambuja said its board has approved schemes to amalgamate ACC and Orient Cement into Ambuja Cements. The move will create a single pan-India cement platform. Under the proposed share swap, Ambuja will issue 328 equity shares of face value Rs 2 each for every 100 ACC shares of face value Rs 10 each. Orient Cement shareholders will receive 33 Ambuja shares of face value Rs 2 each for every 100 shares of Orient Cement with face value Re 1.
Shakti Pumps India rose 2.72% after the company received a Letter of Empanelment/Award worth Rs 356.77 crore from the Maharashtra State Electricity Distribution Company (MSEDCL) for the supply of off-grid solar water pumping systems.
RITES jumped 4.06% after it has won an international order worth $35.2 million from Ndalama Capital, South Africa for the supply and commissioning of in-service Cape gauge ALCO diesel-electric locomotives on a CIF basis.
Larsen & Toubro (L&T) shed 0.28%. The company announced that its Hydrocarbon Onshore business vertical (L&T Onshore) has secured a major engineering, procurement, construction and commissioning (EPCC) order from Bharat Petroleum Corporation (BPCL).
Puravankara zoomed 7.96% after it has acquired a 53.5-acre land parcel in Anekal Taluk, Bengaluru, with a potential gross development value of over Rs 4,800 crore.
Antony Waste Handling Cell surged 5.94% after the company announced that its arm, Antony Lara Enviro Solutions, has secured a contract worth Rs 329.45 crore for the development of a mixed solid waste processing plant in Maharashtra.
Global Markets:
Most European markets advanced on Tuesday as investors awaited Spain’s final GDP data, due later in the day. Provisional figures released last month showed year-on-year growth of 2.8%.
Most Asian markets ended higher, after AI trade lifted major Wall Street indexes overnight.
Nvidia shares rose more than 1% after media reports said that the company was looking to start shipments of its H200 chips to China by mid-February.
In Southeast Asia, Singapore's inflation in November remained steady at 1.2%. Core inflation in the city-state, which strips out prices of private transport and accommodation, also came in at 1.2%, compared to expectations of 1.3%.
Overnight in the U.S., the S&P 500 gained 0.64%, posting its third positive day in a row. The Dow Jones Industrial Average advanced 0.47%, and the Nasdaq Composite climbed 0.52%.
Realty, PSU Bank and pharma shares advanced while consumer durables, IT and FMCG shares declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 39.78 points or 0.05% to 83,978.49. The Nifty 50 index added 41.25 points or 0.16% to 25,763.25.
In the broader market outperformed the frontline indices. The S&P BSE Mid-Cap index jumped 0.62% and the S&P BSE Small-Cap index gained 0.71%.
The market breadth was positive. On the BSE, 2,231 shares rose and 2,003 shares fell. A total of 235 shares were unchanged.
The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) was up from 57.7 in September to 59.2 in October, indicating a quicker improvement in the health of the sector. Manufacturing sector conditions in India continued to strengthen in October, buoyed by GST (Goods and Services Tax) relief, productivity gains and tech investment.
Lenskart Solutions received bids for 19,03,06,318 shares as against 9,97,61,257 shares on offer, according to stock exchange data at 15:30 IST on Monday (3 November 2025). The issue was subscribed 1.91 times. The issue opened for bidding on 31 October 2025 and it will close on 4 November 2025. The price band of the IPO is fixed between Rs 382 and 402 per share.
Studds Accessories received bids for 32,31,32,150 shares as against 54,50,284 shares on offer, according to stock exchange data at 15:30 IST on Monday (3 November 2025). The issue was subscribed 59.29 times. The issue opened for bidding on 30 October 2025 and it will close on 3 November 2025. The price band of the IPO is fixed between Rs 557 and 585 per share.
The Nifty Realty index jumped 2.23% to 968.85. The index fell 0.35% in the past trading sessions.
Phoenix Mills (up 3.72%), Lodha Developers (up 3.06%), DLF (up 2.7%), Sobha (up 2.23%), Prestige Estates Projects (up 2.08%), Oberoi Realty (up 1.76%), SignatureGlobal India (up 1.36%), Anant Raj (up 0.95%), Godrej Properties (up 0.86%) and Brigade Enterprises (up 0.47%) surged.
Auto Sales Data:
Maharashtra Scooters declined 1.75%. The company reported a 76.68% surge in standalone net profit to Rs 267.07 crore, on a 65.87% rise in total income to Rs 271.02 crore in Q2 FY26 over Q2 FY25.
Steel Strips Wheels (SSWL) jumped 3.55% after the company reported a net turnover of Rs 415.90 crore for October 2025, marking a 12.39% year-on-year (YoY) increase compared to Rs 370.05 crore recorded in October 2024.
Ashok Leyland fell 1.03%. The company reported a 16% increase in total commercial vehicle sales to 17,820 units in October 2025, up from 15,310 units sold in October 2024.
VST Tillers Tractors added 1.91% after the company reported an 89.36% increase in total sales to 4,664 units in October 2025, up from 2,463 units sold in October 2024.
Escorts Kubota rose 1.21% after the company’s agri-machinery business division in October 2025 sold 18,798 tractors, its ever highest monthly sales registering a growth of 3.8% as against 18,110 tractors sold in October 2024.
Bharat Petroleum Corporation (BPCL) rallied 3.01% after the company reported a 168.74% jump in standalone net profit to Rs 6,442.53 crore in Q2 FY26 as against Rs 2,397.23 crore posted in Q2 FY25. Net sales (excluding excise duty) rose 2.09% year-on-year (YoY) to Rs 1,04,912.47 crore in the September 2025 quarter.
Ambuja Cements rose 2.40% after reporting a robust 364% year-on-year (YoY) surge in consolidated net profit to Rs 2,302.28 crore for the quarter ended September 2025 (Q2 FY26), driven by strong volumes and improved cost efficiency. Revenue from operations grew 18.99% YoY to Rs 9,431.53 crore, reflecting healthy demand and steady market traction.
Medplus Health Services surged 6.67% after the company reported a 43.3% jump in consolidated net profit to Rs 55.50 crore on 6.5% increase in revenue from operations to Rs 1,679.33 crore in Q2 FY26 over Q2 FY25.
Thangamayil Jewellery hit an upper limit of 20% after the jeweller reported an exceptional set of numbers for the September 2025 quarter. For Q2 FY26, the company’s total sales jumped 45% year-on-year to Rs 1,705 crore from Rs 1,178 crore in Q2 FY25. Retail sales, which form the core of its business, surged 45% to Rs 1,636 crore, while wholesale revenue rose 47% YoY to Rs 69 crore.
GNA Axles advanced 2.09% after the company’s consolidated net profit rose 9.32% to Rs 31.19 crore in Q2 FY26 as against Rs 28.53 crore posted in Q2 FY25. However, revenue from operations fell 10.22% YoY to Rs 347.94 crore in the quarter ended 30 September 2025.
Urban Company fell 3.78% after the company posted a net loss of Rs 59.33 crore in Q2 FY26, compared to Rs 1.82 crore in the same period last year. Revenue from operations grew 37% year-on-year to Rs 380 crore, or 44% YoY on a like-for-like basis excluding the impact of the KSA deconsolidation, driven by broad-based growth across both beauty and home repair services.
Most European markets traded higher on Monday as investors awaited a slew of corporate earnings scheduled this week. Ferrari and Aramco will report on Tuesday, followed by BMW and Vestas on Wednesday. On Thursday, results are expected from Commerzbank, Diageo, Rheinmetall, AstraZeneca, and Maersk, while Richemont will release its latest earnings on Friday.
Sweden’s cenral bank will announce its latest interest rate decision on Wednesday
Asian markets ended higher as investors digested fresh manufacturing data from China and awaited central bank cues, while Japan’s markets remained closed for a public holiday.
China’s manufacturing momentum softened, with RatingDog’s October Purchasing Managers’ Index (PMI) coming in at 50.6 — below both expectations of 50.9 and September’s 51.2 reading. Official data from the National Bureau of Statistics released Friday also indicated a slowdown, with the manufacturing PMI slipping to 49.0, its weakest level in six months.
Meanwhile, the Reserve Bank of Australia began its two-day policy meeting, where it is widely expected to keep rates unchanged after third-quarter inflation came in hotter than anticipated.
On Wall Street, all three major U.S. indexes closed higher Friday, led by tech gains. The Nasdaq Composite rose 0.61% to 23,724.96, the S&P 500 added 0.26% to 6,840.20, and the Dow Jones Industrial Average edged up 0.09% to 47,562.87.
Amazon shares surged 9.6% after the company reported a 20% jump in cloud-computing revenue for the third quarter. The streaming giant Netflix added 2.7% after the company announced a 10-for-1 stock split.
The company reported profit before exceptional items and tax of Rs 1,060.33 crore in Q2 FY26, compared to Rs 900.37 crore recorded in the same period a year ago. The firm reported exceptional items of Rs 222.80 crore during the quarter.
Operational performance remained strong, with sales volume standing at 16.6 million tons in Q2 FY26, registering a growth of 20.29% on a YoY basis. In Q2 FY26, operating EBITDA rose 58.51% year-on-year to Rs 1,761 crore, while the EBITDA margin improved to 19.2%, compared to 14.7% in Q2 FY25. EBITDA per metric tonne (PMT) stood at Rs 1,060 in September 2025.
The company's net worth stood at Rs 69,493 crore. It remains debt-free and continues to maintain its Crisil AAA (stable) and Crisil A1+ ratings.
On the outlook front, Ambuja Cements said, “Cement demand in Q2 FY26 was moderate and grew ~4% YoY. With GST reduction from 28% to 18%, improved economic sentiments, and higher investments from both the public and private sectors, the demand is expected to see an uptick, and we reaffirm our annual growth estimate of 7-8%.”
The company noted that cement demand rose about 4% year-on-year in the September quarter and expects demand to gain further momentum in the coming months, supported by the GST rate reduction on cement from 28% to 18%, increased public and private investments, and improving consumer sentiment.
Vinod Bahety, whole-time director & CEO of Ambuja Cements, said, “This quarter has been noteworthy for the cement industry. Despite headwinds from prolonged monsoons, the sector will benefit from GST 2.0 reforms, CCTS, and withdrawal of coal cess. Our capacity expansion is well timed to capitalize on this positive momentum. We have upped our FY28 target capacity by 15 MTPA to 155 MTPA, coming at a much lower capex of $48/MT. Debottlenecking of logistics infrastructure will help improve utilization by 3%. We aim to deliver double-digit revenue growth, four-digit PMT EBITDA, and achieve a total cost of Rs 4,000 PMT by FY26, with a further 5% YoY reduction to Rs 3,650 PMT by FY28.”
Ambuja Cements is a major cement-producing company in India. The principal activity of the company is to manufacture and market cement and clinker for both domestic and export markets.