Page 6 - Ambuja Cements

Ambuja Cements signs non-dealing pact with lenders on ACC stake

Ambuja Cements, now controlled by billionaire Gautam Adani-led Adani Group, on Wednesday said it has pledged 50.5 per cent shareholding in its subsidiary ACC Ltd as "collateral for loans taken by the company". The company pledged its total 9.39 crore shares of ACC Ltd on September 26, 2022, said a regulatory filing by Ambuja Cements. Adani has acquired the two firms -- Ambuja and ACC -- through a Mauritius-based SPV Endeavour Trade and Investment Ltd (ETIL), which is owned by Xcent Trade and Investment Ltd (XTIL). "The shares of Endeavour Trade and Investment Ltd, Xcent Trade and Investment Ltd and Holderind Investments shall also be charged for such loans," it added. Last week, Adani Group had said it had pledged its entire stake worth USD 13 billion in Ambuja Cements and ACC, days after completing its USD 6.5-billion acquisition of the two companies. Adani group has encumbered its 63.15 per cent stake in Ambuja Cements and 56.7 per cent stake in ACC (of which 50 per cent is held

Cement stocks snap six-day losing streak; India Cements soars 10%

The higher demand will mitigate the impact of lower profitability on absolute operating profits and cash accruals of cement makers, cushioning their credit profiles, Crisil Research said

Stocks to Watch: Harsha Engineers, Britannia, Coal India, Anupam Rasayan

Stocks to Watch: Harsha Engineers will make its debut on the bourses today. The issue price is fixed at Rs 330 per share. As per IPO Watch, the stock can list with a 50 per cent premium

Ambuja, ACC capacity to double to 140 mtpa in 5 years: Gautam Adani

Both companies will become country's most profitable cement firms as margins will go up due to rising demand: Gautam Adani

Ambuja rallies 11% on Adani's Rs 20K-cr boost; brokerages mixed on outlook

Analysts remain positive on Ambuja Cement's long-term market share gains, but caution against any possible dent in the company's profitability due to excess supply in the market

Adani Group to become most profitable cement manufacturer: Gautam Adani

Days after completing a USD 6.5 billion acquisition of Ambuja Cements and ACC, billionaire Gautam Adani said his group has planned to double cement manufacturing capacity and become the most profitable manufacturer in the country. He saw a multifold rise in cement demand in India on the back of record-breaking economic growth and the government's infrastructure creation push, which will give significant margin expansion. In a speech made at an event to mark the completion of the acquisition on September 17, the Adani Group founder and chairman said the ports-to-energy conglomerate has in a single stroke become the second largest cement manufacturer in the country. Adani Group last week completed buyout of Swiss major Holcim's stake in the two firms. Calling the acquisition historic, he said this buyout is India's largest ever inbound M&A transaction in the infrastructure and materials space and closed in a record time of 4 months. "Our entry into this business is happening at a ..

Sensex rises 300 pts, Nifty tops 17,600 despite global weakness; PSBs lead

CLOSING BELL: Gainers outnumbered the losers on the frontline indices today, led by M&M, Bajaj Finance, SBI Life, Adani Ports, HUL, Bajaj Finserv, Nestle India, Eicher Motors, HDFC, ITC, and Infosys

Ambuja Cements hits new high, up 10% on Adani's Rs 20,000-cr funding plan

The company's new board approved an infusion of Rs 20,000 crore by way of preferential allotment of 477 million convertible warrants at a price of Rs 419 to Harmonia Trade and Investment

Stocks to Watch: ACC, Ambuja, Adani Power, ONGC, Zomato, Hero MotoCorp

Stocks to Watch Today: In the F&O space, Indiabulls Housing Finance, India Cements, PVR and RBL Bank are in the ban period on Monday

Adani becomes India's second-largest cement player after Ambuja, ACC deal

Adani becomes India's second largest cement player

Gautam Adani's elder son to oversee newly acquired cement companies

An announcement on Karan's appointment could come as soon as Friday, the people said. A representative for Adani Group declined to comment.

Stocks to Watch: Adani Ports, Tata Power, UPL, SBI, Tata Motors, Patanjali

Stocks to Watch: State Bank of India (SBI) has clarified that it has not been identified as a nodal bank for handling Russia-related rupee transactions

Ambuja Cements, Eicher Motors join Rs 1-trillion m-cap club

Ambuja Cements stood at 100th position in the overall m-cap ranking with Rs 1.05-trillion market cap. Eicher Motors' market cap, meanwhile, touched Rs 1.01 trillion in the intra-day day

Ambuja Cements up 3%, hits new high in a weak market on fund raising plan

The board of directors of Ambuja Cements is scheduled to meet on September 16, 2022 to consider and evaluate proposal for raising of funds

Stocks to Watch: Infosys, Bharat Forge, JSW Steel, IRCTC, Ambuja Cements

Stocks to Watch: JSW Steel has signed a memorandum of understanding (MoU) with SMS group, a German engineering and technology company, for exploring decarbonisation projects

Ambuja Cements hits new high ahead of closure of Adani Group's open offer

The stock has surged 17 per cent in a month ahead of the closure of Adani Group's open offer on Friday, September 9

Adani makes Rs 31K-cr open offer to buy 26% stake in ACC, Ambuja Cements

Adani group on Friday launched its Rs 31,000-crore open offer to acquire 26 per cent additional stake from the public shareholders of Swiss firm Holcim's two Indian listed entities ACC Ltd and Ambuja Cements. In May this year, the Adani Group had announced that it had clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India for USD 10.5 billion. Markets regulator Sebi granted approval for the open offer last week. The open offer is estimated at over Rs 31,000 crore if fully subscribed. In two separate regulatory filings, Ambuja Cements and ACC have submitted their letter of offers for the open offer, launched by the Adani family group's Mauritius-based firm Endeavour Trade and Investment. As per the revised schedule submitted by ICICI Securities and Deutsche Equities India, managers to the open offer, the tendering of shares opens from August 26 and will end on September 9, 2022. In May, the Adani Group had made an open offer at Rs 385 per share for Ambuj

Stocks to watch: L&T, Adani Power, Ambuja Cements, LIC, Paytm, JSW Steel

Stocks to watch today: L&T commissioned a new green hydrogen plant at Hazira in Gujarat; Future Enterprises defaults on payments of interest of two non-convertible debentures (NCDs) of Rs 12.6 crore.

Adani to launch open offer to acquire stake in ACC, Ambuja Cement on Aug 26

The Adani Group is likely to launch next week an open offer worth Rs 31,000 crore to acquire 26 per cent stake each in Swiss firm Holcim's two Indian listed entities Ambuja Cements and ACC, from public shareholders. In May this year, the Adani Group announced that it has clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India for USD 10.5 billion. Markets regulator Sebi granted approval for the open offer this week. The open offer is estimated at over Rs 31,000 crore if fully subscribed. In two separate regulatory filings, Ambuja Cements and ACC have submitted their letter of offers for the open offer launched by the Adani family group's Mauritius-based firm Endeavour Trade and Investment. As per the revised schedule submitted by ICICI Securities and Deutsche Equities India - which are the managers of open offer - tendering of the shares in the open will start from August 26 as against the earlier date of July 6. This will end on September 9, 2022. In Ma

Ambuja Cements surges 10% in one week; stock inches towards 52-week high

Last week, the Competition Commission of India (CCI) approved Adani Group's acquisition of Ambuja Cements and ACC from Switzerland's Holcim.