ITD Cementation India's stock has seen a strong rally. On Friday, September 20, the stock opened at Rs 521 against the closing price of Rs 471. After this, the stock reached above Rs 560. At the same time, the circuit limit is Rs 565. There are reports that the Adani Group is ready to acquire the promoter's 46.64 percent stake in the company.

Adani Group is the frontrunner to buy a 46.64% promoter stake in ITD Cementation India. (Telecom Share in Focus: Voda Idea will take at least 25 years to pay back the amount, big revelations in reports)

If the acquisition happens, the deal size could be Rs 5,888.57 crore (about $700 million). This includes a fully subscribed open offer after the purchase of the promoter stake.
 

the two parties reached an agreement earlier this week and a formal announcement is expected soon.

ITD Cementation India - ITD Cementation India's heritage dates back to pre-independence India. It was originally an EPC (engineering, procurement, and construction) company based in the UK.

The company has changed owners several times in the last several years, in simple words, it has been sold several times. However, it remains a major player in India's civil engineering and infrastructure sector.