ACC-Ambuja merger being put on hold was on expected lines: Rakesh Arora

ACC has shelved its merger with Ambuja Cements. In an interview with CNBC-TV18, Rakesh Arora, Managing Partner of Go India Advisors shared his thoughts.

This was largely expected by the market because the merger was announced in May 2017 and it has taken long, so clearly there were issues. I don’t think market will be that surprised, he said.

These stocks are underperforming markets since the announcement so there is nothing which was built into the stock price. So I don’t think shareholders were expecting this to come through, he added.

He expects market to prefer UltraTech over ACC and Ambuja, he further mentioned.