The revenue from operations for Q2FY24 came in at Rs 3,969.79 crore, compared to Rs 3,675.61 crore year-on-year
The refinancing programme was concluded with 10 international banks with a debt maturity of up to 3 years
The deal, which would be among the top 10 biggest loans in Asia this year, could be sealed this week, according to people familiar with the matter
The three banks are Barclays Plc, Deutsche Bank AG and Standard Chartered Plc
Stocks to watch on Monday, September 25, 2023: Canara Bank, Delta Corp, Granules, Hindustan Copper, Indiabulls Housing and Manappuram Finance are the six stocks in F&O ban period today.
The Indian conglomerate backed by billionaire Gautam Adani has been in talks with lenders for several months as it seeks to refinance as much as $3.8 billion worth of debt taken for Ambuja acquisition
We have now made a roadmap to scale-up our capacity by three times to 60 million tonnes over the next five years
The fine for ACC was Rs 47000 each and for Ambuja Cements was Rs 16000 each
The acquisition, expected to close in the next three to four months, will entail purchase of 56.74 per cent shares from Sanghi Industries' promoter group
ACL will acquire 56.74 per cent shares of SIL from its existing promoter group, Ravi Sanghi & family.
Adani Group is India's second largest cement producer, behind UltraTech Cement. It owns Ambuja and its subsidiary ACC Ltd, which have a capacity to produce more than 65 million tonnes
Gautam Adani's conglomerate is also in discussions with other lenders, as it seeks to refinance as much as $3.8 billion of a loan facility taken for its Ambuja acquisition
The resolution at Adani-owned ACC and Ambuja Cements was still passed with the support of promoters
The broader trend in the cement sector remains optimistic, price action riding along the overall bullish sentiment
Media reports had said earlier this year that the Adani Group was exploring a merger between the two companies
UBS and Nomura expect volume growth of 10 per cent and 8 per cent, respectively, in FY24 aided by an uptick in the real estate cycle.
Regulator probes possible breach of laws related to insider trading
The US Attorney's Office in Brooklyn, New York, has sent inquiries in recent months to institutional investors with large holdings in the India conglomerate, report.
The Cement Manufacturers' Association (CMA) collects data related to production and sales numbers in the country
The Cement Manufacturers' Association (CMA) collects data related to production and sales numbers in the country