Ambuja Cement Share Gains After Adani Group Wins Race To Buy Holcim Stake In Ambuja, ACC
2 years, 7 months ago

Ambuja Cement Share Gains After Adani Group Wins Race To Buy Holcim Stake In Ambuja, ACC

News 18  

Ambuja Cement shares surged 10 per cent in early trades on Monday after Adani Group acquired a controlling stake in Swiss major Holcim’s India business. Adani Group has agreed to buy Holcim’s India assets — the two publicly listed cement companies Ambuja Cements and ACC — in a $10.5-billion deal. Gautam Adani, chairman of the Adani Group, said, “Not only is India expected to remain one of the world’s largest demand-driven economies for several decades, but also continues to be the world’s second largest cement market, and yet, has less than half of the global average per capita cement consumption. When these factors are combined with the several adjacencies of our existing businesses that include the Adani Group’s ports and logistics business, energy business, and real estate business, we believe that we will be able to build a uniquely integrated and differentiated business model and set ourselves up for significant capacity expansion.” Ambuja has a grinding capacity of 31 mtpa and plans to expand it to 40 mtpa in the next two years.

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History of this topic

India Cements share price surges 11% to 52-week high on CCI nod to UltraTech deal
Top News
1 day, 16 hours ago

India Cements share price surges 11% to 52-week high on CCI nod to UltraTech deal

Live Mint  

India Cements share price jumped 11% to reach a new 52-week peak during Monday's trading session after the announcement that the Competition Commission of India has sanctioned UltraTech Cement Limited's acquisition of The India Cements Limited. The proposed arrangement involves UltraTech Cement Limited purchasing 32.72 percent of the paid-up equity share capital of The India Cements Limited from its promoters …

Cement makers hike discounts after Adani foray: Report
4 days, 7 hours ago

Cement makers hike discounts after Adani foray: Report

Live Mint  

As competition in India’s cement sector heated up with the entrance of the Adani Group in September 2022, top manufacturers bumped up discounts to maintain market share, according to a report from British wealth manager Investec. The average discounts offered per tonne of cement by UltraTech Cement, Shree Cement and Dalmia Bharat increased consistently over FY23 and FY24, shows the …

Adani Group approves merger of Sanghi Industries, Penna Cements with Ambuja Cements
1 week ago

Adani Group approves merger of Sanghi Industries, Penna Cements with Ambuja Cements

Live Mint  

Ambuja Cements merger: The Adani Group-owned Ambuja Cements will merge the acquired companies Saurashtra-based Sanghi Industries and Andhra Pradesh-based Penna Cement Industries with itself. Ambuja Cements holds 58.08 per cent of Sanghi Industries' paid-up equity share capital. As part of the deal's completion, Ambuja Cements also executed a trade to acquire 54.51 per cent of the voting share capital from …

Delhi HC dismisses ₹218 crore stamp duty order, ₹69 crore penalty notice against Ambuja Cements
1 month, 2 weeks ago

Delhi HC dismisses ₹218 crore stamp duty order, ₹69 crore penalty notice against Ambuja Cements

Live Mint  

In a big relief for Ambuja Cements, the Delhi High Court has set aside a show cause notice and order demanding ₹218.87 crore stamp duty and ₹69 crore penalty from the company, according to an ANI report. The order from the Collector of Stamps, Delhi directed Ambuja Cements to pay stamp duty worth ₹218,87,81,917.28 and a penalty of ₹69 crore …

Ambuja Sets Tough Targets to Fight Competition: A Strategic Expansion Plan for Cement Giant
1 month, 3 weeks ago

Ambuja Sets Tough Targets to Fight Competition: A Strategic Expansion Plan for Cement Giant

Live Mint  

Ambuja Cements Ltd is seeing results from its increased focus on inorganic growth. The company's consolidated volume grew by 8.4% year-on-year to 14.2 million tonnes (mt) in the September quarter (Q2FY25). This outpaces the industry's flat growth and sector leader UltraTech Cement Ltd's 2.7% rise in domestic grey cement volume to 26.4 mt.

Ambuja Cements Q1 profit at ₹789.63 crore, revenue at ₹8,311.48 crore
4 months, 3 weeks ago

Ambuja Cements Q1 profit at ₹789.63 crore, revenue at ₹8,311.48 crore

The Hindu  

Adani Group firm Ambuja Cements Ltd on July 31 reported a consolidated net profit at ₹789.63 crore for the first quarter ended in June 2024. The consolidated results of Ambuja Cements include the financial performance of its step-down firm ACC Ltd in which it owns around 51% stake and Sanghi Industries, a Gujarat-based company which the Adani group acquired last …

Birla's UltraTech buys stake in India Cements to compete with Adani Group, especially in South India
5 months, 3 weeks ago

Birla's UltraTech buys stake in India Cements to compete with Adani Group, especially in South India

Hindustan Times  

Kumar Mangalam Birla’s UltraTech Cement is acquiring a 23% stake in Chennai-based India Cements to counter the Adani Group’s buying spree, as the battle to dominate India’s cement sector, particularly in South India, intensifies. UltraTech Cement, India's largest cement maker, will pay ₹267 a share to purchase 7.06 crore shares of India Cements, adding up to a ₹1,885 crore deal. …

Government must ensure corporate takeovers are fair, monopolies are not created: Jairam Ramesh
6 months, 1 week ago

Government must ensure corporate takeovers are fair, monopolies are not created: Jairam Ramesh

The Hindu  

The Congress on June 15 said it is the government's responsibility to ensure that competition among corporates is not stifled, oligopolies or monopolies do not emerge and corporate takeovers are free and fair. “It is also the government’s responsibility to ensure that undue advantage arising out of access to political power is not exercised,” party general secretary Jairam Ramesh said. …

Ambuja Cements Acquires AP’s Penna Cement for Rs. 10,422 Crore
6 months, 1 week ago

Ambuja Cements Acquires AP’s Penna Cement for Rs. 10,422 Crore

Deccan Chronicle  

In a landmark acquisition, Ambuja Cements,Ambuja Cements, a subsidiary of the Adani Group, has acquired Andhra Pradesh-based Penna Cement for a staggering Rs. This strategic move not only solidifies Ambuja Cements' position in the highly competitive Indian cement industry but also marks a significant shift in the dynamics of the South Indian cement market. Geographical Expansion : The acquisition of …

Ambuja Cements share price jumps 3% today, analysts bullish on Adani firm stock
6 months, 1 week ago

Ambuja Cements share price jumps 3% today, analysts bullish on Adani firm stock

Hindustan Times  

Ambuja Cements share price rose more than 3% to hit a 52-week high in early trade today. Emkay Global Financial Services maintained its preference for Ambuja Cements and retained its ‘Buy’ call for Ambuja Cements shares and March 2025 target price at ₹700 per share. Antique Stock Broking maintained a ‘Buy’ rating with Ambuja Cements share price target of ₹700 …

Ambuja Cements to acquire Penna Cement for ₹10,422 crore
6 months, 1 week ago

Ambuja Cements to acquire Penna Cement for ₹10,422 crore

The Hindu  

Ambuja Cements Ltd. said it had signed a binding agreement for acquisition of 100% shares of Penna Cement Industries Ltd. from its existing promoter group – namely P. Pratap Reddy and family – at an enterprise value of ₹10,422 crore. “This landmark acquisition is a significant step forward in Ambuja Cements’ accelerating growth journey,” Ajay Kapur, CEO & Whole Time …

Top five to corner 55 pc market share in cement sector
6 months, 1 week ago

Top five to corner 55 pc market share in cement sector

Deccan Chronicle  

Chennai: Amidst reports of Adani Group exploring more acquisitions in the cement sector, ICRA foresees further consolidation in the sector with top five companies cornering 55 per cent share by next year. According to ICRA, the market share of the top five cement companies witnessed a steep rise to 54 per cent as of December 2023 from 45 per cent …

Ambuja Cements’ acquisition of Penna Cement for ₹10,422 crore raises Adani’s cement market share by 8%
6 months, 1 week ago

Ambuja Cements’ acquisition of Penna Cement for ₹10,422 crore raises Adani’s cement market share by 8%

Live Mint  

Ambuja Cements, an Adani group firm on Thursday, June 13, announced the acquisition of Penna Cement Industries Ltd at an enterprise value of ₹10,422 crore. The acquisition will improve Adani group's share in the cement market pan-India by 2 per cent and 8 per cent in south India, according to a regulatory filing by Ambuja Cements to the stock exchanges. …

Adani Group stocks see ₹1.4 lakh crore gain today, zoom 16% as exit polls predict PM Modi's return
6 months, 3 weeks ago

Adani Group stocks see ₹1.4 lakh crore gain today, zoom 16% as exit polls predict PM Modi's return

Hindustan Times  

Adani Group stocks today: Shares of Gautam Adani's Adani Group surged as much as 16% today following exit polls which indicated that Prime Minister Narendra Modi's led BJP will win in the Lok Sabha elections. Adani Group stocks today: Gautam Adani speaks during an interview in Ahmedabad. Gautam Adani replaces Mukesh Ambani as richest Asian Individually, Adani Enterprises jumped 7 …

Adani infuses ₹8,339 crore more in Ambuja Cements, raises stake to 70.3%
8 months, 1 week ago

Adani infuses ₹8,339 crore more in Ambuja Cements, raises stake to 70.3%

The Hindu  

Billionaire Gautam Adani’s family infused an additional ₹8,339 crore in Ambuja Cements, raising its stake in the company to 70.3%, to help the cement maker’s manufacturing capacity. “With this, promoters have further strengthened Ambuja post-acquisition, giving Ambuja capital flexibility for accelerated growth, capital management initiatives and best-in-class balance sheet strength to accomplish its various strategic initiatives,” the statement said. Besides …

Adani family infuses ₹8,339 crore in Ambuja Cements, raises stake to 70.3%
8 months, 1 week ago

Adani family infuses ₹8,339 crore in Ambuja Cements, raises stake to 70.3%

Hindustan Times  

Billionaire Gautam Adani and his family have infused an additional ₹8,339 cr in Ambuja Cements, the company said in a statement, raising their stake in the major cement-producing firm to 70.3 per cent. "We are thrilled to announce completion of Adani family's primary infusion of INR 20,000 Cr in Ambuja," said Ajay Kapur, Whole Time Director and CEO, Ambuja Cements …

Why Ambuja Cements share price trading flat despite stock market crash?
8 months, 1 week ago

Why Ambuja Cements share price trading flat despite stock market crash?

Live Mint  

Stock market today: Despite stock market crash for the second day in a row, the Indian stock market, Ambuja Cements share price is trading flat during Monday deals. The Adani group company share witnessed some selling pressure in the early morning session, but despite the stock market crash today, Ambuja Cements share price bounced back strongly from its intraday low …

Adani Doubles Down on Cement: Gautam Adani infuses ₹6,661 crore to boost stake in Ambuja Cements to 66.7%
8 months, 3 weeks ago

Adani Doubles Down on Cement: Gautam Adani infuses ₹6,661 crore to boost stake in Ambuja Cements to 66.7%

Live Mint  

Indian billionaire Gautam Adani and his family injected $799 million to increase its stake in Ambuja Cements Ltd. as the business tycoon showed signs of confidence in its cement business amid the country’s infrastructure boom. The latest infusion of ₹6,661 crore by the Adani family came after their previous investment of ₹5,000 crore for exercising the warrants issuance approved by …

Adani family infuses ₹6,661 crore into Ambuja Cements, raises stake in company
8 months, 3 weeks ago

Adani family infuses ₹6,661 crore into Ambuja Cements, raises stake in company

Hindustan Times  

Adani family, promoters of Ambuja Cement, infused ₹6,661 crore into the cement and building materials company under the Adani portfolio. Adani family increased their stake in the Ambuja Cement by 3.6 percent to attain 66.7 percent holding. "This strategic move underscores unwavering commitment to have robust capital management philosophy for the portfolio companies and the latest investment testifies the commitment …

Ambuja Cements to invest ₹6,000 crore in Green Power
1 year ago

Ambuja Cements to invest ₹6,000 crore in Green Power

Live Mint  

Ambuja Cements, the Adani Group cement and building material company, has committed a significant investment of ₹6,000 crore in renewable power projects, targeting a capacity of 1,000 MW. The lineup includes a 600 MW Solar Power project and 150 MW Wind Power project in Gujarat and a 250 MW Solar Power project in Rajasthan, Ambuja Cements said in a regulatory …

Adani Group completes acquisition of Sanghi Industries
1 year ago

Adani Group completes acquisition of Sanghi Industries

Deccan Chronicle  

Mumbai: Adani Group-owned Ambuja Cements Limited on Tuesday announced the completion of the acquisition of Sanghi Industries Limited, at an enterprise value of Rs 5,185 crore. Soon after the release, shares of Ambuja Cement rose 7 per cent to Rs 510.30 in intraday trade while shares of Sanghi Industries reached Rs 129.90 with an upper circuit of 5 per cent. …

Adani plans $4-5 bn cement bet after Sanghi acquisition
1 year, 4 months ago

Adani plans $4-5 bn cement bet after Sanghi acquisition

Live Mint  

MUMBAI : Adani Group will invest $4 billion-$5 billion to expand its cement capacity to over 100 million tonnes in two years, two people aware of the matter said, on a day the conglomerate made yet another acquisition. “This landmark acquisition is a significant step forward in Ambuja Cements’ accelerating growth journey," said Gautam Adani, the chairman of Adani Group. …

Adani-owned Ambuja cements to buy majority stake in Sanghi Industries: Report
1 year, 4 months ago

Adani-owned Ambuja cements to buy majority stake in Sanghi Industries: Report

Live Mint  

In a bid to strengthen its presence in the cement industry, Adani-owned Ambuja Cements is all set to acquire a majority stake in operations of Sanghi Industries, reported Reuters. Enjoying the position of India's second largest cement producer after UltraTech Cement, Adani owns Ambuja and ACC Ltd. Enjoying its dominance in Gujarat, Sanghi holds a production capacity of 6.1 million …

UBS downgrades UltraTech Cement, Dalmia Bharat, Ambuja Cements
1 year, 5 months ago

UBS downgrades UltraTech Cement, Dalmia Bharat, Ambuja Cements

Live Mint  

Cement stocks such as Ultratech Cement, ACC, Ambuja Cement and Dalmia Bharat declined on Wednesday after foreign brokerage firm UBS assumed coverage of India’s cement sector with a negative outlook. UBS has a ‘Buy’ rating on ACC, while it downgraded Ultratech Cement to Neutral and Dalmia Bharat and Ambuja Cement to ‘Sell’. The brokerage house has a target price of …

Adani Enterprises Shares Drop 8% as Traders Book Profit; What Should you Do Now?
1 year, 7 months ago

Adani Enterprises Shares Drop 8% as Traders Book Profit; What Should you Do Now?

News 18  

Adani Enterprises Share Price: The three-day rally in Adani Enterprises on Wednesday came to an abrupt halt as the Nifty stock lost up to 8% to hit day’s low of Rs 2425.85 on BSE as traders booked profits. This means Jain’s investment into four Adani Group companies in March has generated more than 65 per cent returns in less than …

How to play cement stocks post ACC, Ambuja Cements, UltraTech Cement earnings?
1 year, 7 months ago

How to play cement stocks post ACC, Ambuja Cements, UltraTech Cement earnings?

Live Mint  

Cement manufacturers ACC, Ambuja Cements and UltraTech Cement reported mixed sets of numbers for the recent January-March quarter with a decent rise in volume amid easing cost pressure. Ambuja Cements Q1CY23 numbers Ambuja Cements reported a 1.6 per cent rise in net profit at ₹502.4 crore for the March quarter as compared to ₹494.4 crore in the corresponding quarter last …

Brokerages hold mixed views on Adani-owned Ambuja Cements post Q4; check details
1 year, 7 months ago

Brokerages hold mixed views on Adani-owned Ambuja Cements post Q4; check details

Live Mint  

For the quarter that ended in March 2023, Ambuja Cements Ltd on Tuesday recorded a 1.5% increase in net profit to ₹502.4 crore. Nuvama Institutional Equities According to the brokerage's analysis, the company's Q1 EBITDA for calendar year 2023 was roughly 14% higher than predicted thanks to higher-than-expected volumes and cost savings, coming in at ₹788.3 crore. The management reiterated …

Ambuja Cements profit up at Rs. 502.4 cr, announces dividend
1 year, 7 months ago

Ambuja Cements profit up at Rs. 502.4 cr, announces dividend

Live Mint  

Adani Group’s newly acquired cement arm Ambuja Cements, on Tuesday, announced a mere 1.6% rise in net profit at Rs. Ajay Kapur, Whole Time Director & CEO, Ambuja Cements said, “Our focus on operational excellence and cost optimisation measures has yielded improved profitability.” According to the exchange filing, Ambuja Cement’s revenue recorded a meek 8.4% increase at Rs. Adani Group, …

Ambuja Cements slips nearly 3% even after Adani prepays $500-million loan
1 year, 9 months ago

Ambuja Cements slips nearly 3% even after Adani prepays $500-million loan

Live Mint  

Shares of Ambuja Cements Ltd, a part of Adani Cement, dipped 2.89 per cent to touch an intraday low of ₹367.40 apiece during Monday's late noon deals even after Gautam Adani-owned conglomerate prepaid $500 million in loans taken for the acquisition of Ambuja Cement. Adani has made a formal request to international lenders to sell 4 per cent to 5 …

Adani repays $2.65 bn debt, releases Ambuja Cem share pledge
1 year, 9 months ago

Adani repays $2.65 bn debt, releases Ambuja Cem share pledge

Live Mint  

Billionaire Gautam Adani has fully repaid $2.15 billion of margin-linked, share-backed funding before its target 31 March deadline, the company said on Sunday. Additionally, Adani also prepaid a $500 million loan facility for acquiring Ambuja Cements Ltd, taking the total prepayment by the Adani family to $2.65 billion. “Adani continues to increase equity in Ambuja financing by prepaying $500 million …

Adani Group repays $2.15-billion loan due before March 31, prepays Ambuja Cements debt
1 year, 9 months ago

Adani Group repays $2.15-billion loan due before March 31, prepays Ambuja Cements debt

The Hindu  

In continuation of its prepaying the finance, the Adani Group has completed full pre-payment of margin-linked share-backed financing aggregating to $2.15 billion before March 31. “The entire prepayment programme of $2.65 billion has been completed within six weeks, which testifies the strong liquidity management and access to capital at sponsor level, supplementing the solid capital prudency adopted at all portfolio …

Adani repays $2.15 bn loan taken pledging shares, prepays another $500 mn loan for Ambuja cement
1 year, 9 months ago

Adani repays $2.15 bn loan taken pledging shares, prepays another $500 mn loan for Ambuja cement

India Today  

Embattled Adani Group on Sunday said it has repaid loans aggregating USD 2.65 billion to complete a prepayment programme ahead of the March 31 deadline to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller. In a statement, Adani group said it has repaid USD 2.15 billion of loans …

Adani seeks to sell stake in Ambuja Cement for $450 mn to reduce debt: Report
1 year, 9 months ago

Adani seeks to sell stake in Ambuja Cement for $450 mn to reduce debt: Report

Hindustan Times  

Gautam Adani is seeking to sell a stake in Ambuja Cement for about $450 million, the Financial Times reported on Friday, citing people familiar with the matter. The embattled Adani Group last year acquired Holcim AG's cement businesses in India – Ambuja Cements and ACC Ltd – for $10.5 billion, its largest-ever acquisition. Adani's latest move comes as the group …

Gautam Adani to sell stake in cement business for $450mn to reduce debt: Report
1 year, 9 months ago

Gautam Adani to sell stake in cement business for $450mn to reduce debt: Report

Live Mint  

Gautam Adani, the chairperson of the Adani Group, is planning to sell stake in the cement business for $450 million with aim to reduce debt, reported Financial Times. Adani is looking to sell 4-5 per cent stake in Ambuja Cement to international lenders, reported Financial Times quoting sources. Earlier, investment firm GQG Partners has bought stake worth ₹15,446 crore in …

2 Adani Group stocks to buy as Jefferies remains bullish post Q3 results
1 year, 10 months ago

2 Adani Group stocks to buy as Jefferies remains bullish post Q3 results

Live Mint  

After their respective earnings for the third quarter ended December 2022, global brokerage Jefferies has recommended Buy ratings on two Adani Group stocks - Adani Ports and Special Economic Zone and Ambuja Cements. Jefferies on Ambuja Cements "Ambuja Cements management on results call indicated: around ₹100 bn capex over 18 mths on major efficiency initiatives/Cap upgrades; reiterated stance to double …

8 Adani Group firms shine, two underperform; Adani Enterprises jumps 13 per cent
1 year, 10 months ago

8 Adani Group firms shine, two underperform; Adani Enterprises jumps 13 per cent

India TV News  

Amid a political slugfest between Opposition parties and the ruling Bharatiya Janta Party, shares of most of the Adani group firms gained in late morning trade on Wednesday. The scrip of Adani Enterprises zoomed 13.07 per cent to Rs 2,038 apiece on the BSE, and its market capitalisation rose to Rs 2.32 lakh crore. Adani Ports Adani Ports and Special …

Ambuja Cements records PAT of ₹369 cr in Q4 on lower fuel costs, shares rally
1 year, 10 months ago

Ambuja Cements records PAT of ₹369 cr in Q4 on lower fuel costs, shares rally

Live Mint  

Ambuja Cement, now a part of Adani Cement, on Tuesday reported a 46% jump in standalone net profit at ₹368.99 crore for the quarter ended 31 December, 2022 as fuel costs fell and demand rose. “EBITDA margins expanded due to relentless focus on reduction in fuel and logistics costs by leveraging synergies with Group Companies,” Ambuja Cements CEO, Ajay Kapur …

Adani Group stocks fall further in morning trade
1 year, 10 months ago

Adani Group stocks fall further in morning trade

The Hindu  

Shares of Adani Group firms tumbled further on the bourses, with shares of Adani Enterprises witnessing a fall of 9.50% as investors continue to offload their holdings. Shares of Adani Total Gas, Adani Power, Adani Green Energy and Adani Wilmar were trading 5% down each on the BSE, while Adani Transmission slipped 10%. In addition, other Adani Group stocks, such …

Bears likely to ease off ahead of Adani Q3 results this week
1 year, 10 months ago

Bears likely to ease off ahead of Adani Q3 results this week

Live Mint  

Friday’s recovery in front line Adani group stocks such as Adani Ports, Adani Enterprises and Ambuja Cements could continue on Monday, with regulators, banks, and the finance minister all trying to calm investor nerves even as more surveillance measures are put in place to curb excessive speculation. “Adani Ports, Ambuja, and ACC could witness some value buying given their steep …

Adani no longer Asia’s richest person as stock rout continues
1 year, 10 months ago

Adani no longer Asia’s richest person as stock rout continues

Al Jazeera  

It’s dramatic setback for Adani, the school-dropout-turned-billionaire whose fortunes rose rapidly in recent years. Shares in Indian tycoon Gautam Adani’s conglomerate plunged again on Wednesday as a rout in his companies deepened to $86bn in the wake of a US short-seller report, with the billionaire also losing his title as Asia’s richest person. After losing $86bn in recent days, equivalent …

Adani Ports, Ambuja Cements deny share buyback plan
1 year, 10 months ago

Adani Ports, Ambuja Cements deny share buyback plan

Live Mint  

Adani group companies — Adani Ports and Special Economic Zone Ltd and Ambuja Cements have denied media reports that companies are planning ₹3,000 crore buyback of shares. Replying to the clarification sought by exchanges, both Adani group companies said, "We would like to clarify that there is no such plan and hence, we are not in a position to comment …

Ambuja Cements, ACC shares crash as Adani Group stocks extend decline
1 year, 10 months ago

Ambuja Cements, ACC shares crash as Adani Group stocks extend decline

Live Mint  

Shares of Ambuja Cement, ACC Ltd plunged along with Adani Group stocks in Friday's trading session as stocks of all 10 listed companies related to the Ahmedabad-based Adani group with interests from energy to infrastructure and media declined after US investor Hindenburg Research LLC said it was shorting some of them and flagged concerns in a January 24 report about …

Adani is giving jitters to South Indian cement companies
2 years ago

Adani is giving jitters to South Indian cement companies

Live Mint  

CHENNAI : India Cements Ltd’s Platinum Jubilee celebrations, on 12 November, was a parade of the who’s who. Mid-caps, small-caps a good bet, but watch your steps Govt readies ambitious plan to lift sagging exports Wary microfinance lenders go for secured loans How MarketsMojo’s Mohit Batra stands apart in PMS field In May this year, billionaire Gautam Adani, the chairman …

Ambuja Cements Q2 Net Profit Falls 94% to Rs 51.3 Crore; Revenue Up 7.4% to Rs 7,143 Crore
2 years, 2 months ago

Ambuja Cements Q2 Net Profit Falls 94% to Rs 51.3 Crore; Revenue Up 7.4% to Rs 7,143 Crore

News 18  

Ambuja Cements, now part of the Adani Group, on Friday reported a fall of 94.24 per cent in its consolidated net profit at Rs 51.30 crore for the September quarter, mainly due to rising fuel prices and related inflationary impact. The company had clocked a net profit of Rs 890.67 crore in the year-ago quarter, Ambuja Cements said in a …

Adani Group pledges stake worth $13 bn in Ambuja Cements and ACC
2 years, 3 months ago

Adani Group pledges stake worth $13 bn in Ambuja Cements and ACC

The Hindu  

The Adani Group has pledged its entire stake worth $13 billion in Ambuja Cements and ACC, days after completing its $6.5 billion acquisition of the two companies. This is "for the benefit of certain lenders and other finance parties," said Adani Group which has now chalked out plans to double the cement manufacturing capacity to 140 million tonne in next …

Adani complete acquisition of Ambuja Cements & ACC, become country’s 2nd largest
2 years, 3 months ago

Adani complete acquisition of Ambuja Cements & ACC, become country’s 2nd largest

Live Mint  

The Adani Group on Friday completed the acquisition of Ambuja Cements and its subsidiary ACC Ltd from Switzerland’s Holcim Group for $6.4 billion, the company said in a statement. “The Adani Family, through Endeavour Trade and Investment Ltd, a special purpose vehicle, has successfully completed the acquisition of Ambuja Cements Ltd and ACC Ltd. The value of the Holcim stake …

Adani names son Karan to run cement firms; injects ₹20,000 crore in Ambuja Cement
2 years, 3 months ago

Adani names son Karan to run cement firms; injects ₹20,000 crore in Ambuja Cement

The Hindu  

Billionaire Gautam Adani's son Karan will helm the cement firms his group has acquired to become India's second largest cement player and extend his burgeoning empire that spans from ports and energy to airports and telecom. In a media statement, Adani group announced the completion of the acquisition of Ambuja Cements and ACC for a total consideration of $6.5 billion …

Adani becomes India’s second largest cement player
2 years, 3 months ago

Adani becomes India’s second largest cement player

India TV News  

Highlights Post the transaction, Adani will hold 63.15% in Ambuja Cements and 56.69% in ACC The combined market capitalization of Ambuja Cements and ACC is USD 19 billion as on date Two new Board committees will drive ESG assurance and and consumer-first approach The Adani Family, through Endeavour Trade and Investment Ltd, a special purpose vehicle, has successfully completed the …

Adani Group’s open offer for Ambuja Cements, ACC ends. What should investors do?
2 years, 3 months ago

Adani Group’s open offer for Ambuja Cements, ACC ends. What should investors do?

Live Mint  

Adani Group's open offer for a 26% stake each in Ambuja/ACC ended on September 9. With the acquisition process largely behind, global brokerage Jefferies believes the group's focus should now shift to cement business strategy going forward, pace of turnaround on efficiencies and growth outlook. In the recently concluded Jefferies Asia Forum, Adani Group's CFO highlighted that the group is …

Adani to shake up ACC and Ambuja Cement boards
2 years, 3 months ago

Adani to shake up ACC and Ambuja Cement boards

Live Mint  

MUMBAI : Gautam Adani, chairman of Adani Group and Asia’s richest man, his son Karan and nephew Pranav, will join the boards of two of India’s oldest cement companies, ACC Ltd and Ambuja Cements Ltd, in an overhaul of the top management and board of the two cement makers, two people directly familiar with the matter said. The two simultaneous …

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