ACC, Ambuja Cements fall: Shares of cement major, ACC and Ambuja Cements slipped 1-4 percent in the early trade on Tuesday as the merger between the companies have been called at this juncture.
A limitation in transferring mining assets has led to ACC and Ambuja Cements (ACL) from dropping plans to merge their business, at least for the present.
"On the basis of a comprehensive evaluation carried out by both the Special Committee and the Board of Directors, the Board is of the opinion that there are present certain constraints in implementing the merger between the company and ACL, said an announcement by ACC.
The Indian rupee opened marginally lower at 64.81 per dollar on Tuesday against previous close 64.79.
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