Adani group aiming at 100 mn tonnes per annum combined, from present 70 mn tonnes; both firms to invest with own cash and fresh debt; ACC-Ambuja merger on cards
Billionaire Gautam Adani is buying Switzerland-based Holcim AG's cement businesses in India for $10.5 billion
Group outbids Ultratech and JSW group to enter the industry and also emerge as the country's second-largest cement manufacturer
Adani Enterprises can rally up to 14 per cent; whereas ACC, and Ambuja Cements can gain another 10 per cent each, indicate charts
The Adani Group is hammering out the final details of a $10 billion deal for 63.1% of Ambuja Cements Ltd. along with related assets
'Large cement plants in India on an average use 30-40 per cent less energy per tonne of cement than the world average'
Here are the top Business Standard headlines on Friday
Here are the top Business Standard headlines on Thursday
The race is on to acquire Ambuja Cements and ACC. Why do India's leading firms want to buy Holcim's stake? And why did the Swiss company decide to quit India which contributes 27% of its global sales?
UltraTech outlines divestiture details that would meet the norms set by Competition Commission of India
Here are the top headlines on Tuesday
The move comes as Switzerland's Holcim tries to diversify away from its core business of cement and aggregates to focus more on building technology amid increased emphasis on sustainability
Swiss cement major's India units facing cement cartelisation probe
Business Standard brings you the top headlines at this hour
Business Standard brings you the top headlines at this hour
Adani Group could sign an agreement to acquire a controlling stake in Ambuja Cements Ltd. from Holcim as soon as in the coming days
Holcim Ltd., the world's biggest cement maker, is considering a potential sale of businesses in India including Ambuja Cements.
Ambuja Cement is exhibits a positive bias, and is likely to further gains on follow-up buying; whereas other cement stocks need to overcome major hurdles.
Going ahead, charts indicate likely revival in investor sentiment with further uptick in prices.
Despite these ongoing cost related challenges, demand outlook is expected to stay healthy from long-term perspective