Ambuja Cement's shares saw a significant rise of 4% following the announcement of its acquisition of Penna Cement.

This strategic purchase marks a substantial step in Ambuja Cement's expansion plan, aiming to bolster its market presence and production capabilities.

Penna Cement, a notable player in South and West India, brings a robust production infrastructure and a solid market foothold to the table.

By integrating Penna Cement's assets, Ambuja Cement is poised to enhance its regional influence and operational efficiencies, potentially leading to increased market share and improved profitability.

The market's reaction to this acquisition was overwhelmingly positive, as evidenced by the surge in Ambuja Cement’s stock price.

Investors appear confident in the company's strategic direction and its ability to capitalize on the synergies offered by this acquisition.

This development underscores Ambuja Cement's commitment to strengthening its competitive edge in the cement industry and driving long-term growth.