Nomura analysts project a 6 per cent year-on-year (Y-o-Y) volume growth for the Indian cement industry in FY26F, compared to an estimated 3 per cent in FY25F
Under the deal, Ambuja Cements will issue 12 equity shares of the face value of Rs 2 each for every 100 equity shares of Sanghi Industries of face value Rs 10 each
Stocks to watch on December 18, 2024: Ambuja Cements approved a scheme of arrangement for the amalgamation of Sanghi Industries and Penna Cement Industries with Ambuja Cements
The Adani Group-promoted firm had acquired SIL and PCIL in 2023 and 2024 respectively
Ambuja Cements, part of Adani Group firm, on Friday announced the commissioning of a 200 MW solar power project in Khavda, Gujarat, to supply green power to 20 cement plants. The Khavda project is part of Adani Cements' plan to have 1 GW of renewable power from solar and wind projects, along with 376 MW from WHRS (Waste Heat Recovery Systems). "The balance 806 MW capacity from this project is at various stages of commissioning and expected to start transmitting in phases between March 2025 and June 2025," said a statement. Of the remaining 806 MW capacity from this project, 156 MW of wind power from Khavda and a further 300 MW of solar power from Rajasthan are expected to be commissioned by March 2025 in phases. The balance of 350 MW of solar power is expected to be commissioned by June 2025. This will "positively impact the company's EBITDA" as this development leads to an impressive 70 per cent savings compared to current power cost, it added. The company is spending around Rs
The renewed investor interest in the cement shares came on the back of reports that cement dealers have initiated price hikes since the start of December
While FY25 is seeing slow growth and subdued govt spending, CareEdge maintains a long-term outlook aligned with India's broader growth strategy with housing, continuing to be primary driver of cement.
Billionaire Gautam Adani-led Ambuja Cements has sought approval from the Competition Commission of India (CCI) to acquire a majority stake in CK Birla group firm Orient Cement Ltd in a Rs 8,100-crore deal. According to a CCI notice, the proposed transaction is a two-stage acquisition process, initiated through two share purchase agreements (SPAs) on October 22, 2024, will see Ambuja Cements initially acquiring a 46.80 per cent stake in Orient Cement. This includes a 37.90 per cent stake from the current promoter group and an additional 8.90 per cent from certain public shareholders. Pursuant to the acquisition of shares, it "triggers an obligation on the acquirer to make an open offer under Sebi's SAST (Substantial Acquisition of Shares and Takeovers) rules for acquisition of up to 26 per cent of the expanded share capital of the target (open offer)", according to the notice. Assuming full acceptance of open offer, the stake of Ambuja Cements will stand at 72.8 per cent, said a not
Gap in the two competitors' reserves is narrower than that in manufacturing capacities
Q2FY25 company results: Indian Oil, Ambuja Cements, Aditya Birla Sun Life AMC, Sun Pharma and more will report their second-quarter earnings on October 28
Adani pips Ultratech, makes open offer for CK Birla firm at Rs 395.40 a share
The German building materials company Heidelberg Materials AG holds a 69.39 per cent stake in its Indian subsidiary, which, at current market rates, is valued at approximately Rs 3,437 crore
ITD Cementation had announced on July 3, 2024, that its promoter Italian Thai Development (ITD) Public Company Limited is exploring a potential divestment of its investments in the company.
Rambhav Gattu was arrested for Rs 2 lakh alleged bribery attempt in Odisha, money hidden in box of sweets handed over to govt official
The Indian cement industry, which is witnessing aggressive acquisitions by two of its leading players - Adani group's Ambuja Cement and Aditya Birla's UltraTech, will have further consolidation in the near-to-medium term, according to a report. In the report, rating agency Ind-Ra said that the aggressive medium-term capacity targets of leading players are unlikely to be fully achieved organically and the industry is likely to witness an increase in the competitive intensity. This will also lead to some pricing pressure due to which the gap between leading and small players could continue to widen given the wider presence and better cost efficiencies for large players, India Ratings and Research (Ind-Ra) said. "Ind-Ra expects the cement sector to witness further consolidation in the near-to-medium term, given the aggressive medium-term capacity targets of leading players that are unlikely to be fully achieved organically," the report said. The rating agency said it also expects dema
Shares of cement companies have slid up to 19 per cent in the last four weeks on the NSE, against a 1.06 per cent jump in the benchmark Nifty50
Adani family was likely to sell around 3 per cent stake in Ambuja Cements via block deals
Ambuja Cements' board of directors had approved the acquisition of 100% stake in Penna Cement at an enterprise value of Rs 10,422 crore in June, expanding the firm's southern footprint
Part of the capex, company executives informed, will be Rs 600-700 crore for a cement house in Ahmedabad
At 6:41 AM, GIFT Nifty futures were down 369 points, trading at 24,342.50, suggesting a gap-down start.