Business Standard

Ambuja Cement

This cement stock has almost doubled from June low; trades at new high

India Cements stock hit a new high of Rs 343.85, surging 6% in an otherwise volatile market. The stock has zoomed 50% since June 25.

This cement stock has almost doubled from June low; trades at new high
Updated On : 18 Jul 2024 | 12:26 PM IST

Ambuja Cements poised for highest volume growth: Nomura upgrades to 'Buy'

Japanese brokerage firm Nomura has upgraded India's second biggest cement company Ambuja Cements to Buy with a target price of Rs 780, an upside of 17 per cent

Ambuja Cements poised for highest volume growth: Nomura upgrades to 'Buy'
Updated On : 11 Jul 2024 | 9:04 AM IST

Adani Group announces merger, ownership restructuring for its cement assets

As part of the scheme, Adani Cementation will be merged with Ambuja, while Adani Cement Industries will become a wholly-owned subsidiary of Ambuja Cements

Adani Group announces merger, ownership restructuring for its cement assets
Updated On : 27 Jun 2024 | 9:29 PM IST

Ambuja Cements board approves Adani Cementation's merger with company

Adani group-owned Ambuja Cements on Thursday said its board has approved the merger of Adani Cementation, which is now a subsidiary of Adani Enterprises. After the approval of the Scheme of Amalgamation of Adani Cementation, after regulatory and shareholders approval, it would become a wholly-owned subsidiary. The merger is totally based on share swapping and Adani Enterprises will get 8.7 million shares of Ambuja Cements. The consolidation of cement capacities within Adani Group is "to enhance operational efficiency" and strengthen Ambuja Cements' coastal footprint. The scheme has a "SWAP ratio of 174 shares of Ambuja Cements Ltd for every 1 share of Adani Cementation Ltd (ACL)," it said. Adani Cementation Ltd is wholly owned by Adani Enterprise Ltd. This will help in a better synergy for Ambuja Cements as ACL's presence at strategic locations near Dahej port and Amba River - Raigad. It will enable source clinker by Sea as well as Rail to serve high growth market of South Gujara

Ambuja Cements board approves Adani Cementation's merger with company
Updated On : 27 Jun 2024 | 7:22 PM IST

Sanghi Industries slips 6% after promoters offload 9.9 mn equity shares

Sanghi Industries stock slipped up to 5.8 per cent at Rs 96.50 on the NSE in Wednesday's early morning deals.

Sanghi Industries slips 6% after promoters offload 9.9 mn equity shares
Updated On : 26 Jun 2024 | 10:56 AM IST

Ambuja Cement bags 24 limestone mines in FY24 with 587 MT estimated output

Adani group firm Ambuja Cements, which is aggressively pushing for expansion, has won 24 bids for new limestone mines estimated to have a total resource of 587 million tonnes of limestone, according to the company's annual report. This is in addition to 1 billion tonnes of reserve of Sanghi Industries, a Saurashtra-based company which billionaire Gautam Adani-owned firm acquired last November at an enterprise value of Rs 5,185 crore. "Winning bids for coal and limestone mines is critical to ensure self sufficiency, with coal mines in Dahegaon-Gowari and the existing Gare Palma coal block catering to 40 per cent of Ambuja Cements Ltd (ACL) coal requirements," it said. The Adani group has an ambition to have a capacity of 140 MTPA (million tonnes per annum) by 2028. It has sufficient cash to reach there through a combination of brownfield expansion and acquisitions. Earlier this month, Adani Group announced the acquisition of Hyderabad-based Penna Cement at an enterprise value of Rs

Ambuja Cement bags 24 limestone mines in FY24 with 587 MT estimated output
Updated On : 24 Jun 2024 | 5:55 PM IST

Adani Group may merge all cement assets under single entity: Jefferies

Executives from Adani Cement told Jefferies they are exploring plans for consolidating all cement companies in the medium term

Adani Group may merge all cement assets under single entity: Jefferies
Updated On : 24 Jun 2024 | 1:12 AM IST

Penna Cement acquisition: Adani spells out Lanka, South India strategy

Company sets target to achieve 140 MTPA capacity by 2028, aided by greenfield expansions

Penna Cement acquisition: Adani spells out Lanka, South India strategy
Updated On : 14 Jun 2024 | 11:12 PM IST

Stock Market Highlights, June 14: Sensex, Nifty rises for 3rd day; Auto, realty stocks shine

Stock Market Highlights on June 14: The BSE Sensex gained 182 points, or 0.24 per cent, to end at 76,993 levels, while the Nifty50 shut shop 67 points, or 0.29 per cent, higher at 23,466

Stock Market Highlights, June 14: Sensex, Nifty rises for 3rd day; Auto, realty stocks shine
Updated On : 14 Jun 2024 | 3:49 PM IST

Adani Group's Ambuja Cements to buy Penna Cement for Rs 10,422 crore

This is Adani Group's third acquisition since the Ambuja-ACC takeover

Adani Group's Ambuja Cements to buy Penna Cement for Rs 10,422 crore
Updated On : 13 Jun 2024 | 11:58 PM IST

Ambuja Cements acquires Penna Cement at enterprise value of Rs 10,422 cr

PCIL's strategic location and sufficient limestone reserves provide an opportunity to increase cement capacity through debottlenecking and additional investment

Ambuja Cements acquires Penna Cement at enterprise value of Rs 10,422 cr
Updated On : 13 Jun 2024 | 6:49 PM IST

Adani group shares in demand; Enterprises, Total Gas, Power rally up 14%

Adani Power hit a record high of Rs 791.95, as it zoomed 13 % in intra-day trades as India's foremost private power producer, is very well placed to benefit from the long-term power demand outlook.

Adani group shares in demand; Enterprises, Total Gas, Power rally up 14%
Updated On : 31 May 2024 | 10:45 PM IST

M&A activity: Deals fell 60% in April to $5.19 bn despite more transactions

The overall deal activity by value declined by a sharp 60 per cent to USD 5.192 billion in April as compared to the preceding March's USD 12.934 billion, a report said on Monday. This was despite a 24 per cent increase in the number of deals at 176 during the month, the report by a consultancy firm said. The highest decline by value was in the merger and acquisitions transactions, which came down 75 per cent to USD 2.526 billion when compared with USD 10.212 billion in March, while the private equity transactions by value were marginally down at USD 2.666 billion, the report by Grant Thornton Bharat said. Within the broader M&A, the decline was sharpest in outbound deals that plummeted to USD 24 million as against USD 9.072 billion a month ago, it said. The Adani group's 8 per cent stake increase in Ambuja Cement and ACC for a cumulative USD 1.8 billion in two transactions was the highest M&A activity of the month, it said. "The deal outlook for 2024 continues to remain ...

M&A activity: Deals fell 60% in April to $5.19 bn despite more transactions
Updated On : 14 May 2024 | 8:45 AM IST

Adanis invest another Rs 8,339 cr in Ambuja Cements, promoter stake up 70%

Completes fund infusion of Rs 20,000 crore, promoter stake now at 70.3 per cent

Adanis invest another Rs 8,339 cr in Ambuja Cements, promoter stake up 70%
Updated On : 17 Apr 2024 | 9:52 PM IST

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

Billionaire Gautam Adani's family infused an additional Rs 8,339 crore in Ambuja Cements, raising its stake in the company to 70.3 per cent, to help the cement maker's manufacturing capacity. The Adani family previously invested Rs 5,000 crore in the company on October 18, 2022, and Rs 6,661 crore on March 28, 2024. With the latest investment, it has completed Rs 20,000 crore planned infusion, the company said in a statement. "The promoters of the company - Adani family - has fully subscribed to the warrants program in the company by further infusing Rs 8,339 crore, thereby infusing a total amount of Rs 20,000 crore," it said. The latest infusion raises the Adani family stake in Ambuja Cement by 3.6 per cent to 70.3 per cent. In all, its holding in Ambuja Cement has increased from 63.2 per cent to 70.3 per cent. The fund infusion will help Ambuja accelerate its growth ambitions to almost double its existing capacity to 140 million tonnes per annum by 2028 from 76.1 million tonnes

Adani infuses Rs 8,339 crore in Ambuja Cements, raises stake to 70.3%
Updated On : 17 Apr 2024 | 6:44 PM IST

Ambuja to acquire My Home Group's grinding unit in TN for Rs 413.75 cr

Ambuja Cements on Monday said it will acquire My Home Group's cement grinding unit at Tuticorin in Tamil Nadu for a total value of Rs 413.75 crore. The company -- a part of the Adani Group -- has signed a definitive agreement to acquire the cement grinding unit of the My Home Group, which has a capacity of 1.5 MTPA, Ambuja Cements said in a statement. "The acquisition estimated at a total value of Rs 413.75 crore through internal accruals will aid in enhancing the coastal footprint across southern markets of Tamil Nadu and Kerala," it added. The total cement capacity of Adani Group stands at 78.9 MTPA, the company said. "In addition to the infrastructure and geographical advantages, Ambuja Cements will also inherit the existing dealer network and retain current employees, facilitating a smooth transition and enabling the rapid ramp-up of utilisation," Ajay Kapur, CEO, Cement Business, Adani Group, said. The grinding unit is spread across 61 acres near the Tuticorin Port with a ..

Ambuja to acquire My Home Group's grinding unit in TN for Rs 413.75 cr
Updated On : 15 Apr 2024 | 2:14 PM IST

Adani Group targets one-fifth share in Indian cement market by FY28

Gautam Adani-led Adani group, which owns Ambuja Cements and ACC Ltd, is targeting to capture around one-fifth of the Indian cement market by FY28. Adani Cement business will implement its accelerated capex program through internal accruals and the business will continue to "remain debt free," said an investor presentation shared by Ambuja Cements. Besides, Adani Cement also amplifies the pace of capacity expansion and is expected to have an accelerated growth rate of 16 per cent to reach 140 MTPA (million tonnes per annum) by FY2028. "Adani Cement market share targeted to be 20 per cent by FY'28 from current 14 per cent," the Adani group firm said. Presently, Adani Cement is the second leading company in the sector after the Aditya Birla group firm UltraTech Cements. Ambuja, with its subsidiaries ACC Ltd, has the capacity to produce 77.4 million tonnes of cement annually from 18 integrated cement manufacturing plants and 18 cement grinding units across the country. It had recently

Adani Group targets one-fifth share in Indian cement market by FY28
Updated On : 12 Apr 2024 | 7:03 PM IST

Adani Group seeks $750 mn from banks to pay for conversion of warrants

As of March, Adani family had reportedly made an initial payment of Rs 6,661 crore for the conversion of warrants allocated by Ambuja Cements

Adani Group seeks $750 mn from banks to pay for conversion of warrants
Updated On : 12 Apr 2024 | 12:29 PM IST

Adani family infuses Rs 6,661 cr in Ambuja Cements, raises stake to 66.7%

The board of Ambuja Cements has approved the conversion of 21.20 crore warrants into shares of promoter entity Harmonia Trade and Investment at the rate of Rs 314.15 per share

Adani family infuses Rs 6,661 cr in Ambuja Cements, raises stake to 66.7%
Updated On : 28 Mar 2024 | 5:42 PM IST

Broader mkt weakness, slow capex to halt rally in cement shares: Analysts

Shares of JK Cement, Dalmia Bharat, Ambuja Cement, and ACC, for instance, have lost in the range of 5 per cent to 8 per cent during the period, ACE Equity data shows

Broader mkt weakness, slow capex to halt rally in cement shares: Analysts
Updated On : 14 Mar 2024 | 1:02 AM IST