Shares of Orient Cement jumped over 4 per cent on Tuesday after Ambuja Cements announced the merger of its subsidiaries, including ACC Ltd and Orient Cement, into a single entity, aiming to create a unified pan-India cement platform.

Orient Cement’s stock rose 4.39 per cent to close at Rs 171.05 on the BSE, after touching an intra-day high of Rs 180, marking a surge of nearly 10 per cent. Ambuja Cements also ended higher, gaining 1.25 per cent to settle at Rs 546.75, while hitting a day’s high of Rs 563.25. In contrast, shares of ACC Ltd slipped 1.21 per cent to Rs 1,754.30, despite rising earlier in the session.

The board of Ambuja Cements has approved a scheme of amalgamation under which ACC Ltd, Orient Cement, Penna Cement and Sanghi Industries will be merged into Ambuja, creating a combined cement capacity of 107 million tonnes per annum.

Ambuja said the merger would help unlock operational efficiencies, optimise manufacturing and logistics, and enable better capital deployment, ultimately enhancing profitability and long-term shareholder value.

Under the scheme, Ambuja will issue 328 equity shares of Rs 2 each for every 100 ACC shares of Rs 10 face value. For Orient Cement shareholders, 33 Ambuja shares of Rs 2 each will be issued for every 100 shares held. The merger of Sanghi and Penna is currently awaiting statutory approvals.