New Delhi, Dec. 23 -- Shares of Ambuja Cement and Orient Cement rallied up to 10% on Tuesday, December 23, after the former announced that it will merge its subsidiaries ACC and Orient Cement with the company.

ACC shares, meanwhile, cracked following the announcement. All three cement companies are part of billionaire Gautam Adani-led Adani Group.

Orient Cement share price zoomed 9.8% to Rs.180 on the BSE. Meanwhile, Ambuja Cements' share price rallied 4.3% to the day's high of Rs.563.25. At the same time, ACC shares witnessed some selling pressure, losing 1.67%.

The Adani group on Monday announced the simplification of its group structure as it decided to consolidate the cement business under one entity.

According to the exchange fil...