Ambuja Cement says strategic locations near Dahej port and Amba River will enable source clinker by sea as well as rail to serve high-growth market of South Gujarat and Mumbai
Ambuja will acquire 100% stake in Penna Cement from its promoter group, Reddy and family, at an enterprise value of ₹10,422 crore.
Adani family raises stake in Ambuja Cements by 3.6% to 66.7%
The integration of Sanghi Industries will help expand cement capacity to 15 MTPA in next 2 years, says Karan Adani, Adani Ports & SEZ.
The revenue from operations of Ambuja Cement increased by 8.4% year-on-year to ₹8,713 crore in the June quarter as against ₹8,033 crore in the same period last year.
Hindenburg Research accused the Gautam Adani-led conglomerate of "pulling the largest con in corporate history."
Jaiprakash Associates has decided to divest from the cement business completely.
The consolidation in the country's cement sector comes months after the Adani family forayed into the cement industry.
Dalal Street is seen opening lower on Tuesday, tracking losses across Asia and Wall Street as well as negative trade on SGX Nifty futures.
