ITD Cementation Stock Surges as Adani Group Plans to Acquire Stake: Full Details Inside

ITD Cementation stock: ITD Cementation India Ltd, a leading engineering and construction company, saw a sharp surge in its stock price following news that the Adani Group may acquire a significant stake in the company. According to reports, the Adani Group is eyeing a 46.64% stake in ITD Cementation, with the potential deal estimated to be worth around ₹5,888.57 crore. This news has sent the company’s stock soaring, and investors are closely watching this development. Additionally, ITD Cementation is financially strong, having recently reported impressive net profit growth.

Highlights:

• Adani Group may acquire a 46.64% stake in ITD Cementation.
• The potential deal is estimated at ₹5,888.57 crore.
• The company’s current market capitalization is ₹9,133.09 crore.
• ITD Cementation posted over 90% growth in net profit in June 2024 quarter.
• The company’s total promoter holding stands at 46.64%.

Key Points:

ITD Cementation stock

Introduction to ITD Cementation

ITD Cementation India Ltd, initially known as Trafalgar House Construction India Limited, was founded in 1978. In 1994, the company was rebranded as ITD Cementation India Ltd. It is a major player in the engineering and construction sector, working on projects in marine structures, foundations, transportation, hydroelectric projects, tunnels, dams, and urban infrastructure. Its prestigious clients include Hindustan Zinc, the Ministry of Defense, the Indian Navy, the National Highways Authority of India, and Indian Railways.

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Adani Group’s Stake Acquisition News

According to recent reports, the Adani Group is planning to acquire a 46.64% stake in ITD Cementation. This potential deal could be valued at approximately ₹5,888.57 crore. Following this news, ITD Cementation’s stock has witnessed a significant surge, drawing attention from investors.

Financial Status of ITD Cementation

ITD Cementation is already in a strong financial position, reporting a remarkable growth of over 90% in net profit in the June 2024 quarter. Additionally, the company’s total revenue also saw a 33% increase. By March 2024, ITD Cementation had recorded an annual net profit of ₹273.74 crore, demonstrating its solid financial performance.

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Promoter Holding

Regarding promoter holding, the Adani Group’s potential acquisition of 46.64% shares will strengthen its control over ITD Cementation. This deal would enhance the company’s promoter holding, further bolstering ITD Cementation’s financial backing and market position.

Performance of ITD Cementation

ITD Cementation has delivered exceptional performance recently. The company recorded more than 90% growth in net profit during the June 2024 quarter, reflecting its strong management and expertise in handling construction projects. Furthermore, the company’s total income also saw a significant 33% growth, marking its upward trajectory.

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Impact of Adani Group’s Investment

Adani Group’s potential investment in ITD Cementation will not only strengthen the company’s market position but also make it more capable of handling larger projects. This strategic acquisition would also enhance the Adani Group’s portfolio, while ITD Cementation’s shareholders can expect positive returns.

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