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.
Adani group firm ACC Ltd is making remarkable strides in its ambitious endeavour to double capacities and is also focused on margin expansion to become the most profitable cement manufacturer in the country, according to its latest annual report. ACC Chairman Karan Adani said Adani group is adopting a three-pronged approach to the growth of its cement business, which also invests in branding and marketing strategy to take advantage of the existing legacy of the ACC brand and focus on strengthening the distributor and dealer network. "The first is to double our plant capacity with an emphasis on green cement. Our significant presence in the green energy business and utilisation of our fly ash, where possible, from our power generation business, aligns well with this approach. The second is to drive much greater operational efficiency to grow margins," Adani said in its message to shareholders in the annual report 2022-23. Besides ACC, which was acquired by billionaire Gautam Adani in
Adani Group-owned ACC and Ambuja Cement have launched a Cement and Concrete Research & Development facility at Kalamboli, Navi Mumbai. The newly established R&D facility will help Ambuja and ACC drive progress, enhance cost optimization, and create sustainable solutions to shape the future of the cement industry, said a statement. A focus on new product development, productivity enhancement, reduction in energy consumption and environmental impact have been major drivers for the establishment of the R&D facility, it added. "Our new R&D facility is our reinforcement towards our collective commitment to pushing boundaries, driving innovation, and addressing industry challenges," said Ajay Kapur, CEO, Cement Business. ***** UltraTech Cement partnering with Finland-based Coolbrook * Leading cement producer UltraTech is partnering with Finland-based Coolbrook to start a joint development project. It will install Coolbrook's RotoDynamic Heater (RDH) technology at an ...
The derivative analyst from HDFC Securities recommends to Buy ACC 1,800 CALL at Rs 45.5 & simultaneously sell 1860 CALL at Rs 22.5
Contradicting media reports that Asia Cup could be postponed and a parallel tournament, excluding Pakistan, could be played in Dubai in the same window, the Asian Cricket Council (ACC) sources on Monday said that they have not sent out any such proposal to the member nations. A report in Pakistan media claimed that if PCB will not agree to play Asia Cup at a neutral venue, the tournament could be taken away from the country. The hosting rights of the 2023 Asia Cup, scheduled to be held in ODI format, are with the Pakistan Cricket Board but BCCI secretary Jay Shah, who is also the ACC chairman, has made it clear that the Indian cricket team will not travel to Pakistan. The PCB has proposed to host Asia Cup on a 'hybrid model', where Pakistan play their matches on the home soil, while India play at a neutral venue -- in all likelihood Dubai. It is understood that the BCCI wants the entire tournament to be shifted to the UAE -- which has three grounds in Dubai, Sharjah and Abu Dhabi -
Says since matter is sub-judice, financial statements do not carry any adjustments
Cement maker ACC Ltd on Thursday reported a decline of 40.53 per cent in its consolidated net profit at Rs 235.66 crore for the quarter ended March 2023. The company had posted a profit of Rs 396.33 crore in the January-March quarter a year ago, said ACC, now a part of Adani Cement, in a BSE filing. Its total revenue from operations during the quarter under review was at Rs 4,790.91 crore, up 8.23 per cent, as against Rs 4,426.54 crore in the corresponding period a year ago. ACC's total expenses were at Rs 4,514.38 crore, up 14.10 per cent. Shares of ACC Ltd on Thursday settled at Rs 1,747.10 on the BSE, up 0.51 per cent from the previous close.
People holding leadership roles are now based out of Ahmedabad but their teams are working from Mumbai and the teams have to spend a substantial time travelling back and forth between the cities
The slide in the stocks resumed after a report by The Ken claimed that the Adani group has not completely repaid its loans taken against the promoters' shares
Issue stems from multiple disclosures made by the group; Promoter group entities are typically considered related parties
Analyst recommends investors should wait for some constructive growth direction before venturing into the Group stocks.
Industry players said the GQG investment will provide a floor to Adani stocks and also ease concerns around promoter-share pledges
The Darlaghat plant of Ambuja Cements has a capacity of 2 million tonnes per annum while that of ACC's Gagal produces 5.5 mtpa
Adani currently holds 63.15 per cent stake in Ambuja Cement and 56.69 per cent in ACC
Except Ambuja Cements, Ultratech Cement, Ramco Cements, and India Cements need to surpass crucial key levels to lead to a rally ahead
Analysts expect industry margin to bottom out in Q2, with peaking of cost, higher exit of cement prices, and pick-up in construction activity in coming quarters
CLOSING BELL: The gains were largely led by bank, auto, IT, and FMCG stocks. Their sectoral indices were up over 1 per cent each
Jaypee-owned firm undergoing bankruptcy process
CLOSING BELL: Sectorally, the Nifty PSU Bank index climbed 3.6 per cent, Nifty Bank index 1.6 per cent, Nifty Financial Services and Private Bank indices up to 1.5 per cent