Ambuja Cements Surges on ACC, Orient Merger Approval; Brokerages Bullish

• Ambuja Cements shares gained today after its board approved the merger of ACC and Orient Cement.
• Brokerages remain bullish, citing corporate structure simplification, operational synergies, and cost optimisation benefits.
• The merger aims to create a pan-India cement platform, optimise networks, and improve capital allocation.
• HSBC, Macquarie, and Citi reiterated 'Buy' or 'Outperform' ratings with positive outlooks on the transaction.
• Expected cost synergies of at least Rs 100 per tonne are a key part of the investment thesis.

Why It Matters: Ambuja Cements gains as brokerages back ACC, Orient merger for synergies and simplification.