New Delhi: Gautam Adani, one of the country's billionaires , is now planning to buy another cement company of the country. According to media reports, Gautam Adani can buy stake in ITD Cementation India. After this news of ITD Cementation India, the company's stock saw a tremendous rise.

Today, the company's shares rose by more than 17 percent from the beginning of trading. This rise continued and at 12 noon, the company's shares touched the upper circuit level. At 12 noon, the company's shares rose by 20 percent to reach Rs 565.85 per share.

Along with the shares of ITD Cementation India, the shares of Adani Enterprises have also seen a rise. At the time of writing the news, the shares of Adani Enterprises were trading at Rs 3,000.25 per share with a gain of 1.94 percent.

How much percentage of stake will you buy

According to media reports, Gautam Adani will buy stake from the promoter of the company. For this, the deal will be around Rs 5,888.57 crore. Along with buying the stake of Adani Group, the company can also bring an open offer. The company will buy this stake with the aim of strengthening civil engineering capabilities. It is expected that by next week both the companies can make a formal announcement regarding the deal.

Let us tell you that currently the market capitalization of Adani Enterprises is more than Rs 3.3 lakh crore. At the same time, the market cap of ITD Cementation is Rs 8,097 crore.

The current market capitalization of ITD Cementation is Rs 8,097 crore, while the total market value of Adani Enterprises is over Rs 3.3 lakh crore.

Promoter can sell stake

In June this year, the company had informed the stock exchange that the promoter is considering selling the stake of the company. If the promoter sells the stake, then the company can bring an open offer.

ITD Cementation India Share Performance

Talking about the share performance of ITD Cementation India, the company's shares have given a return of 157.38 percent in one year. Whereas from 20 March to 20 September, the company's shares have seen a rise of 87.21 percent.