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.


According to a report in the Economic Times , Adani Group is at the forefront of buying 46.64 per cent promoter stake in ITD Cementation India. (Telecom Share in Focus: Voda Idea will take at least 25 years to pay the amount, big revelations in reports)

If the acquisition happens, the size of the deal could be Rs 5,888.57 crore (about $700 million). Which also includes a fully subscribed open offer after the purchase of promoter stake. According to the Economic Times, both the parties reached an agreement earlier this week and a formal announcement is expected soon. ITD Cementation India- ITD Cementation India's heritage is linked to pre-independence India. It is originally an EPC (engineering, procurement and construction) company based in the UK. In the last several years, the company has changed owners several times, in simple words, it has been sold several times. But it remains a major player in India's civil engineering and infrastructure sector.