ITD Cementation may be Gautam Adani's, investors rushed to buy shares as soon as the news came

Gautam Adani, one of the billionaires of the country, is now planning to buy another cement company of the country. According to media reports, Gautam Adani can buy stake in ITD Cementation India. After this news of ITD Cementation India, the company's stock saw a great rise.

Today, the company's shares have risen by more than 17% since early trading. This rise continued, and at 12 p.m., the company's stock reached the upper circuit level. At 12 p.m., the stock had risen 20% to Rs 565.85 per share.

Adani Enterprises, like ITD Cementation India, has seen its stock rise. Adani Enterprises' stock was trading at Rs 3,000.25 per share, up 1.94% as of the writing of this article.

According to Jagran, Gautam Adani will buy the stake from the promoter of the company. For this, there will be a deal of about Rs 5,888.57 crore. Along with buying the stake of Adani Group, the company can also bring an open offer. The company will buy this stake with the aim of strengthening civil engineering capabilities. It is expected that by next week both the companies can make a formal announcement regarding the deal.

Adani Enterprises' current market capitalisation is more than Rs 3.3 lakh crore. At the same time, ITD Cementation has a market capitalisation of Rs 8,097 crore.

ITD Cementation's current market capitalisation is Rs 8,097 crore, while Adani Enterprises' total market value exceeds Rs 3.3 lakh crore.

In June of this year, the company informed the stock exchange that the promoter is considering selling his stake in the company. If the promoter sells their stake, the company can make an open offer.

In terms of share performance, ITD Cementation India's stock returned 157.38% in a year. At the same time, from March 20 to September 20, the company's stock increased by 87.21%.