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Attock Cement’s acquisition approved | The Express Tribune
On completion of deal, Fauji Cement, Kot Addu Power will acquire controlling interest
ISLAMABAD:
The Competition Commission of Pakistan (CCP) has approved the proposed acquisition of Attock Cement by Fauji Cement Company and Kot Addu Power Company, following a phase-I competition assessment conducted under the Competition Act, 2010.
On February 3, 2026, Fauji Cement and Kot Addu Power filed a pre-merger application for the acquisition of controlling interest in Attock Cement from Pharaon Investment Group Limited. The proposed acquisition is pursuant to the Scheme of Compromises, Arrangement, and Reconstruction agreement dated January 30, 2026. Upon completion of transaction, Fauji Cement and Kot Addu Power will acquire control of Attock Cement.
Fauji Cement, a subsidiary of Fauji Foundation, is a publicly listed company engaged in the manufacture and sale of cement and related products. Kot Addu Power is a publicly listed energy company engaged in power generation. Attock Cement is a publicly listed cement manufacturer. The seller, Pharaon Investment Group, is an international investment holding company based in Lebanon. CCP’s analysis noted that while there was a horizontal overlap between Fauji Cement and Attock Cement, the post-transaction market share would remain below the statutory dominance threshold, and the cement sector in Pakistan continues to have multiple established competitors.
CCP concluded that the proposed transaction was neither likely to create or strengthen a dominant position nor substantially lessen competition or adversely affect the competitive structure of the market. Accordingly, the transaction has been authorised in accordance with the provisions of the Competition Act, 2010. The authorisation is limited to CCP’s assessment of the transaction under Section 11 of the Competition Act and does not affect any ongoing enquiries, proceedings or matters pending before the commission, the Competition Appellate Tribunal or any other competent forum.
Defense Secretary Pete Hegseth previously threatened to remove the firm from the department’s supply chain.
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Stocks To Watch: Vishal Mega Mart, Axis Bank, Jio Financial Services, Hindalco, Vedanta, And Others
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Stocks to watch: Shares of firms like Vishal Mega Mart, Axis Bank, Jio Financial Services, Hindalco, Vedanta, and others will be in focus on Friday’s trade
Stocks To Watch on February 27
Stocks to Watch Today, February 27, 2026: Indian equities are likely to open on a cautious note amid mixed global cues. As of 7:41 AM, GIFT Nifty futures were trading 87 points lower at 25,549.
Vishal Mega Mart: Promoter Samayat Services is reportedly looking to offload up to a 6.5 per cent stake via a block deal. The transaction is valued at around Rs 3,507.5 crore, with a floor price of Rs 115 per share.
Axis Bank: The private sector lender has approached the Reserve Bank of India (RBI) seeking approval to retain a higher stake in its subsidiary, Axis Finance, with only limited dilution proposed.
Netweb Technologies: The company has partnered with Vertiv to develop advanced liquid-cooled rack solutions for AI-focused data centres in India.
Jio Financial Services: The company has infused Rs 2,000 crore into its subsidiary, Jio Credit Ltd, to fund business expansion and growth plans.
Hindalco: The acquisition of AluChem Companies, Inc. through Aditya Holdings LLC has been temporarily delayed after the CFIUS review in the US was paused due to a partial federal government shutdown.
Info Edge: The board has approved a commitment of Rs 250 crore to the newly launched B8 Fund I, a growth-stage fund aimed at strengthening its presence in India’s startup ecosystem.
Reliance Communications: The CBI has reportedly registered a fresh case against Anil Ambani and the company for allegedly defrauding Bank of Baroda of over Rs 2,220 crore between 2013 and 2017.
Ircon International: The Patna High Court has dismissed the company’s writ petition related to VAT assessments for the Ganga Bridge Project (FY11–FY17), upholding a demand of Rs 108.75 crore. Of this, Rs 27.39 crore has been paid, leaving an outstanding Rs 81.36 crore plus interest.
NBCC: The state-run firm has secured project management consultancy orders worth about Rs 775.27 crore (excluding GST) from the Delhi Development Authority (DDA) for redevelopment projects in New Delhi.
MSTC: The company has emerged as the lowest bidder for a Coal India tender to act as an external service provider for non-regulated sector (NRS) linkage auctions for three years.
Onesource Specialty Pharma: The NSE and BSE have issued no-objection letters for the proposed merger and arrangement involving Steriscience Specialties, Brooks Steriscience and Strides Pharma Services.
Vedanta: ICRA has assigned an ‘ICRA AA’ rating to the company’s NCDs with a ‘Watch Developing’ outlook. It also reaffirmed the long-term rating at ‘ICRA AA’ (Watch Developing) and the short-term rating at ‘ICRA A1+’.
BPCL: The oil marketing company has incorporated a wholly owned subsidiary in Singapore — Bharat Petroleum Global Energy Services — to set up a trading desk for crude oil, natural gas and petrochemical products.
Brigade Enterprises: The company has partnered with Primus Senior Living to develop three senior living communities in South India, with an estimated gross development value of Rs 750 crore.
Apeejay Surrendra Park Hotels: The firm has signed a management agreement with Luxmi Tea Co. to operate a 100-room premium hotel under “The Park” brand in Siliguri, West Bengal.
GMDC: The company has signed an MoU with NTPC to jointly explore opportunities in coal and lignite gasification, along with related downstream projects.
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February 27, 2026, 08:21 IST
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Consumer confidence has fallen in a blow for retailers as customers veer away from big-ticket purchases, figures show.
GfK’s long-running Consumer Confidence Index dropped three points to minus 19 in February to a level last seen in November, despite easing inflation.
The decline was mainly driven by weaker perceptions of personal finances – looking back over the last year and ahead to the next 12 months – which both fell by four points.
The major purchase index – an indicator of confidence in buying big-ticket items – also fell by four points, to minus 14.
Expectations for the general economy over the next 12 months remained unchanged at minus 31 – the same as the score a year ago.
Meanwhile, a measure of confidence in saving money, which is part of the survey but does not contribute to the overall score, fell seven points to 21 – nine points lower than last year.
Neil Bellamy, consumer insights director at GfK, said: “Fewer people say that now is a good time to make major purchases and fewer consumers intend to save money.
“Although the rate of inflation is easing, prices continue to rise, forcing many households to prioritise day-to-day spending over longer-term needs.
“Views on the broader economy remain firmly in negative territory, with consumers anticipating only limited economic growth this year.
“Unemployment has now reached its highest level in nearly five years, and this is increasing concerns about job security, particularly given the backdrop of weak wage growth. With fewer entry-level opportunities available, those on lower incomes are already feeling the strain, and this trend risks undermining the typically more optimistic outlook held by younger age groups.”
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