Page 3 - Ambuja Cement

Cement shares in demand; UltraTech, Shree, JK, Dalmia Bharat gain up to 5%

While FY25 is seeing slow growth and subdued govt spending, CareEdge maintains a long-term outlook aligned with India's broader growth strategy with housing, continuing to be primary driver of cement.

Ambuja Cements seeks CCI approval to buy majority stake in Orient Cement

Billionaire Gautam Adani-led Ambuja Cements has sought approval from the Competition Commission of India (CCI) to acquire a majority stake in CK Birla group firm Orient Cement Ltd in a Rs 8,100-crore deal. According to a CCI notice, the proposed transaction is a two-stage acquisition process, initiated through two share purchase agreements (SPAs) on October 22, 2024, will see Ambuja Cements initially acquiring a 46.80 per cent stake in Orient Cement. This includes a 37.90 per cent stake from the current promoter group and an additional 8.90 per cent from certain public shareholders. Pursuant to the acquisition of shares, it "triggers an obligation on the acquirer to make an open offer under Sebi's SAST (Substantial Acquisition of Shares and Takeovers) rules for acquisition of up to 26 per cent of the expanded share capital of the target (open offer)", according to the notice. Assuming full acceptance of open offer, the stake of Ambuja Cements will stand at 72.8 per cent, said a not

Ambuja Cements rivals UltraTech in limestone reserves via acquisitions

Gap in the two competitors' reserves is narrower than that in manufacturing capacities

Q2 results today: Airtel, Adani Power and BHEL among 168 to post earnings

Q2FY25 company results: Indian Oil, Ambuja Cements, Aditya Birla Sun Life AMC, Sun Pharma and more will report their second-quarter earnings on October 28

Adani's Ambuja to acquire 46.8% stake in Orient Cement for Rs 8,100 cr

Adani pips Ultratech, makes open offer for CK Birla firm at Rs 395.40 a share

Major cement firms compete to acquire HeidelbergCement India's stake

The German building materials company Heidelberg Materials AG holds a 69.39 per cent stake in its Indian subsidiary, which, at current market rates, is valued at approximately Rs 3,437 crore

ITD Cementation surges 18% on Adani play; has zoomed 122% so far in 2024

ITD Cementation had announced on July 3, 2024, that its promoter Italian Thai Development (ITD) Public Company Limited is exploring a potential divestment of its investments in the company.

Adani-backed Ambuja Cement's officer arrested for bribery attempt in Odisha

Rambhav Gattu was arrested for Rs 2 lakh alleged bribery attempt in Odisha, money hidden in box of sweets handed over to govt official

Cement sector to face further consolidation in near-to-medium term: Report

The Indian cement industry, which is witnessing aggressive acquisitions by two of its leading players - Adani group's Ambuja Cement and Aditya Birla's UltraTech, will have further consolidation in the near-to-medium term, according to a report. In the report, rating agency Ind-Ra said that the aggressive medium-term capacity targets of leading players are unlikely to be fully achieved organically and the industry is likely to witness an increase in the competitive intensity. This will also lead to some pricing pressure due to which the gap between leading and small players could continue to widen given the wider presence and better cost efficiencies for large players, India Ratings and Research (Ind-Ra) said. "Ind-Ra expects the cement sector to witness further consolidation in the near-to-medium term, given the aggressive medium-term capacity targets of leading players that are unlikely to be fully achieved organically," the report said. The rating agency said it also expects dema

After monsoon lull, price pressure, are cement stocks worth buying?

Shares of cement companies have slid up to 19 per cent in the last four weeks on the NSE, against a 1.06 per cent jump in the benchmark Nifty50

Ambuja Cements share jump over 4% after multiple block deals

Adani family was likely to sell around 3 per cent stake in Ambuja Cements via block deals

Adani-led Ambuja Cements completes acquisition of Penna Cement Industries

Ambuja Cements' board of directors had approved the acquisition of 100% stake in Penna Cement at an enterprise value of Rs 10,422 crore in June, expanding the firm's southern footprint

Ambuja-ACC plans to set up Rs 1,000 crore offices in Ahmedabad, Delhi

Part of the capex, company executives informed, will be Rs 600-700 crore for a cement house in Ahmedabad

Stocks to Watch on August 5: Infosys, SBI, Titan, Britannia, Ambuja Cement

At 6:41 AM, GIFT Nifty futures were down 369 points, trading at 24,342.50, suggesting a gap-down start.

Adani to invest Rs 5,500 cr in cement unit, Bihar CM lays foundation stone

Bihar Chief Minister Nitish Kumar on Saturday laid the foundation stone for a Rs 1,600-crore cement grinding unit of Ambuja Concrete North Private Ltd, a subsidiary of Adani Group's Ambuja Cements, in Nawada district. Adani Group has decided to invest an additional Rs 5,500 crore across various sectors in the state, a statement, issued by the CMO, said. A total of 40,000 employment opportunities will be generated by these investments, it said. "The project of 6 MTPA cement grinding unit, worth Rs 1,600 crore, will be implemented in three phases. The first one of 2.4 MTPA at an investment of Rs 1,100 crore is targeted to be commissioned by December 2025. The project is expected to create 250 direct and 1,000 indirect jobs in the area," the Chief Minister's Office (CMO) said. The project is considered the largest investment in the state by a cement industry player. It will meet the growing infrastructure needs of Bihar, the CMO said. "Adani Group has decided to invest an additional

Adani's Ambuja Cement to invest Rs 1,600 cr to build grinding unit in Bihar

Adani Group-owned Ambuja Cement Ltd (ACL) on Saturday announced an investment of around Rs 1,600 crore in Bihar to set up a cement grinding unit at Warisaliganj in Nawada district. The 6 MTPA Warisaliganj cement grinding unit is the first venture in Bihar of ACL, which is aggressively expanding its capacity in the country, according to a statement from the Adani Cement entity. "The Warisaliganj Cement Grinding Unit, a standalone facility with an overall capacity of 6 MTPA (million tonnes per annum), will be established at an investment of nearly Rs 1,600 crore," it said. With this announcement, the billionaire Gautam Adani-led firm has become "the largest investment in the state by a cement industry player". "The project will meet the growing infrastructure needs of Bihar, aligning with priorities outlined in the recent Union Budget," it said. In the latest Union Budget 2024-25, the Narendra Modi-led government unveiled big-ticket projects for Bihar, proposing a total outlay of ov

Ambuja Cements' Q1 results: Profit at Rs 789.63 cr; revenue at Rs 8,311 cr

Adani Group firm Ambuja Cements Ltd on Wednesday reported a consolidated net profit at Rs 789.63 crore for the first quarter ended on June 2024. The company had reported a net profit of Rs 1,135.46 crore in the April-June period a year ago, according to a regulatory filing by Ambuja Cements Ltd (ACL). Its revenue from operations was at Rs 8,311.48 crore during the June quarter compared to Rs 8,712.90 crore in the corresponding period last fiscal. According to ACL, the financial results for the current quarter, preceding quarter and FY24, also include the financial results of Sanghi, which was acquired in August last year. It also has results of ACCPL (Asian Concretes and Cements Pvt Ltd) ), which was acquired by its subsidiary ACC. "The results for the current quarter, preceding quarter and FY24, are not comparable with the quarter ended June 30, 2023, to that extent," it said. Total expenses in the June quarter were at Rs 7,566.91 crore. The total Income of ACL, which also inclu

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.

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

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