The shares of Ambuja Cements Ltd have risen high and continued their upward march, hitting an over three-month high of Rs 387.45, up 3 per cent on the BSE in today’s trade. The stock has traded at its highest level since January 14, 2022. The S&P BSE Sensex was down 0.92 per cent at 56,669.

• HDFC Bank Shares Climb 3% on Strong Q1 Update
• Overnight Stock Market Movements: Key Developments 
• Stocks Under F&O Ban 
• Indian Hume Pipe Soars 9% on Rs 738 Cr Rajasthan Order
• Max Estates Jumps 6% as Q1 Pre-Sales Surges 5x

In the April month, the stock of the cement company has rallied 29 per cent on reports that the company’s foreign promoter, Holcim Ltd, the world’s biggest cement maker, is considering a potential sale of businesses in India, including Ambuja Cements.

Ambuja Cements’ stock hit a 52-week high of Rs 442.95 on September 8, 2021. In comparison, the S&P BSE Sensex was down 3 per cent, while ACC was up 7 per cent during the same period.

The Swiss giant is gauging interest in its controlling stake in Ambuja Cements. Deliberations are in the early stages and may not lead to a transaction, media reported.

Neither Holcim nor its Indian subsidiaries Ambuja and ACC have offered any comments.