Adani's foray expected to trigger consolidation in cement industry

Adani, Ultratech, Dalmia Bharat, Shree Cement to buy smaller companies, say analysts

With the cash-rich Adani group aiming to become India's biggest cement maker by 2030, the Aditya Birla group-owned UltraTech, which is currently India's top cement firm, is expected to face the heat. Both groups might try to acquire smaller rivals in the cement industry, say industry analysts.

The Adani family acquired all of Swiss cement major Holcim's 63.11 per cent stake in Ambuja Cement, which has a 50.05 per cent interest in ACC, along with Holcim's direct stake of 4.48 per cent in ACC for $6.4 billion in cash. The Adanis also announced that they would invest Rs 20,000 crore