Ambuja Cements News

According to industry observers, the competition for leadership in the cement sector is expected to escalate following the Adani group's announcement of ambitious expansion plans. Currently, however, the Kumar Mangalam Birla group appears to have strengthened its position by acquiring a 23% stake in India Cements, thereby increasing its presence in the largest regional market in India, which boasts one of the highest per capita income.

Details of voting results of the 41st Annual General Meeting of the Company.

ACL has acquired land to set up 2.5 MTPA (million tonnes per annum) along with captive jetty at Amba River, Raigad (Maharashtra). Besides, it has commissioned 1.30 MTPA cement grinding capacity at Dahej, Gujarat in July 2023, where expansion is in progress for another 1.20 MTPA.

Investment Rational- Merger of Adani Cementation Limited with the Company

Outcome of Board Meeting approving the proposed scheme of amalgamation between Adani Cementation Limited and Ambuja Cements Limited.

The UltraTech-India Cements deal comes two weeks after Adani Group unit Ambuja Cement announced acquisition of Hyderabad-based Penna Cement at an enterprise value of Rs 10,422 crore, adding to its capacity and market share in southern India.

A total of 195,791 shares changed hands on the counter till 10:25AM (IST)

Proceedings of 41st Annual General Meeting of Ambuja Cements Limited held on 26th June, 2024

Ambuja Cements and Ravi Sanghi plan to sell a 3.52% stake in Sanghi Industries through an OFS. The sale will occur over two days on June 26 and June 27, 2024. Adani group firm Ambuja Cement acquired a majority stake in Sanghi Industries last year, with shares peaking at Rs 151.85 on January 15, 2024.

The stock quoted a 52-week high of Rs 690.0 and a 52-week low of Rs 404.0.

State-owned Punjab & Sind Bank has signed an initial agreement with the Indian Army on defence salary package which will come with a host of facilities, including free insurance cover.

The promoters proposed to sell 90,92,000 shares of the total issued and paid-up equity share capital. On June 26 (T day), Wednesday, the issue will open only for non-retail investors while for retail investors and those non-retail investors who choose to carry forward their unallotted bids from T day, on June 27, Thursday (T+1 day). Ambuja Cements held 60.44% stake in Sanghi Industries as on March 31, 2024.

On the technical charts, the 200-day moving average of the stock stood at Rs 536.48.

Ambuja Cements Limited has informed the exchange about transcript of conference call pertaining to the acquisition of Penna Cement Industries Limited

Ambuja Cements, a subsidiary of the Adani group, has won 24 bids for new limestone mines with a total resource of 587 million tonnes. The company aims to have a capacity of 140 million tonnes per annum by 2028, with sufficient cash to achieve this through brownfield expansion and acquisitions. The company recently acquired Hyderabad-based Penna Cement, adding 14 MTPA to its capacity to 89 MTPA.

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Ambuja Cements Ltd has informed BSE regarding "Transcript of Conference Call pertaining to the acquisition of Penna Cement Industries Limited"

After acquiring Penna Cement Industries, Ambuja Cements stock fell by 1% to close at ₹657. The acquisition strengthens Ambuja's presence in southern, eastern, and western markets.

INTIMATION OF LOSS OF SHARES

On the technical charts, the 200-day moving average of the stock stood at Rs 534.33.

Ambuja Cements Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 164241.07 Crore) operating in Cement sector.

The stock quoted a 52-week high price of Rs 690.0 and low of Rs 404.0.

A total of 129,150 shares changed hands on the counter till 01:43PM (IST)

Private credit funds, including Edelweiss Alternative Asset, expect Ambuja Cements to repay Penna Cement's high-cost debt ahead of schedule. Adani Group-controlled Ambuja Cements acquired Penna Cement for ₹10,442 crore, aiming to reduce borrowing costs and improve credit ratings. The acquisition will help Ambuja Cements to refinance or repay Penna Cement's existing term loans and high-cost debt, including ₹400 crore to Edelweiss Alternative Asset.

Private credit funds, including Edelweiss Alternative Asset, expect Ambuja Cements to repay Penna Cement's high-cost debt ahead of schedule. Adani Group-controlled Ambuja Cements acquired Penna Cement for ₹10,442 crore, aiming to reduce borrowing costs and improve credit ratings. The acquisition will help Ambuja Cements to refinance or repay Penna Cement's existing term loans and high-cost debt, including ₹400 crore to Edelweiss Alternative Asset.

Adani Cements uses the sea route for some transportation at Sanghi Industries and Ambuja Cements. "The plan for sea logistics will mature now, after this acquisition. You will see a much more impactful progression on sea logistics in 6-12 months time," said Vinod Bahety.

Adani Cements uses the sea route for some transportation at Sanghi Industries and Ambuja Cements. "The plan for sea logistics will mature now, after this acquisition. You will see a much more impactful progression on sea logistics in 6-12 months time," said Vinod Bahety.

We are submitting the weblink of the Audio recording of the Investors Conference call on Acquisition of Penna Cement Industries Ltd.

Intimation for interaction with investors / Analyst

The Penna Cements acquisition, announced on Thursday, will set the Adani Group back by ₹10,422 crore. The cement maker said that the transaction would be fully funded through internal accruals. As part of the transaction, Ambuja Cement will acquire a cement capacity of 14 million tonne per annum and an under construction 4.0 MTPA cement capacity at Jodhpur IU and Krishnapatnam GU to be completed by Penna Cement.

Intimation of Schedule of Analyst / Institutional Investor Meeting /Call scheduled on 14th June, 2024

A total of 491,958 shares changed hands on the counter till 10:45AM (IST)

Shares of Ambuja Cements, owned by the Adani Group, surged by 4% to reach a new all-time high of Rs 690 in early Friday trading on the BSE. This spike came after the company disclosed its acquisition of a 100% stake in Penna Cement (PCIL).

Investec upgraded Vedanta to a Hold rating, JPMorgan maintained its Buy stance on HAL, Jefferies retained a Hold rating on HCL Technologies, and Macquarie recommended a Neutral rating on Ambuja Cement.

Presentation on investment rationale on acquisition on Penna Cement Industries Ltd.

Equity indices hit record levels on Thursday after lower-than-expected inflation hints at RBI interest rate cut. L&T Finance, Ambuja Cement, Vodafone Idea, Puravankara, NITCO, Wipro, Nalco, Suven Pharma, and MosChip Technology make significant moves. Adani Group-owned Ambuja Cement acquires Penna Cement at Rs 10,422 crore. Morgan Stanley buys 3.13 crore equity shares in L&T Finance.

Of the enterprise value, Ambuja Cement will hold back around ₹3,500 crore as milestone payments for completion of 2 million tonne (MT) cement capacity and 3 MT clinker facility at Penna's Rajasthan plant, which is likely in a year.

The acquisition will be fully funded through internal accruals, the filing said. The move is expected to boost Ambuja Cements' growth, said Ajay Kapur, CEO & Whole Time Director. The consolidated turnover of PCIL for the last three years i.e. FY2023-24, FY2022-23 and FY2021-22 is Rs 1241 crore, Rs 2002 crore and Rs 3204 crore, respectively.

Media Release- Ambuja cements Limited about entering into a binding agreement for acquisition of 100% stake in Penna Cement Industries Limited

Ambuja cements Limited has informed about entering into binding agreement ("Agreement") for acquisition of 100% stake in Penna Cement Industries Limited.