Page 3 - Ambuja Cement

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

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

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.

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

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

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

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

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

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

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

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.

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 ...

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