Billionaire Gautam Adani-led Adani Group on Tuesday said it will acquire CK Birla group firm Orient Cement at a valuation of ₹8,100 crore as part of its expansion drive.

Ambuja Cements, the cement and building material company of Adani Cement and part of the diversified Adani Group, has signed a binding agreement for the acquisition of Orient Cement Ltd (OCL) at an equity value of ₹8,100 crore.

Equity market benchmark indices rebounded in early trade on Tuesday amid buying in blue-chip stocks and persistent fund inflows by domestic institutional investors. After falling in the previous trade, the BSE Sensex bounced back and climbed 239.33 points to 81,390.60 in early trade. The NSE Nifty went up by 72.95 points to 24,854.05.

The GIFT NIFTY is trading flat, indicating a subdued start for the NIFTY50 today. Meanwhile, the major Asian indices are trading mixed. Japan’s Nikkei 225 is down 1.2%, while Hong Kong’s Hang Seng index is up 0.5%.