Adani's foray expected to trigger consolidation in cement industry

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

Adani, Gautam Adani
Premium

Dev Chatterjee Mumbai
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

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 18 2022 | 1:55 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com