AMBUJA CEMENT UNDER ASM
Birla Group cements lead, Adani plans taking shape
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.
A war of titans builds up in India's cement sector
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.
UltraTech to buy 23% stake in India Cements for Rs 1,885 crore
UltraTech Cement approved acquiring a 23% stake in India Cements for Rs 1,885 crore at Rs 267 per share, describing it as a financial investment. The deal, which has been described as a "financial investment" by the Aditya Birla Group company, would be done in cash payment. UltraTech's stock surged 6% to Rs 11,811, and India Cements rose 12.5% to Rs 295.75 on the news.
Adani group firm Ambuja Cement bags 24 limestone mines in FY24
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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Penna buy to cut logistics costs for Adani Cements: CFO 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.
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Adani's ₹10,000 crore cement bet set to pay-off in battle with UltraTech, with gains across India, Sri Lanka
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.
Ambuja Cement shares surge 4% after acquiring Penna Cement
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).
Ambuja cements deal to acquire Hyderabad-based Penna
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.
Ambuja Cement acquire 100% stake in Penna Cement for Rs 10,422 crore
Ambuja Cement, a company owned by Adani group, has signed a definitive agreement to acquire Hyderabad-based Penna Cement at an enterprise value of Rs 10,422 crore, as per the company’s filing on the stock exchanges.
Ambuja Cements to acquire 100% stake in Penna Cement for Rs 10,422 crore
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.
Market Mantra! Why putting your eggs in a few baskets could be a great idea
Capital allocation has been concentrated in specific sectors, leaving many with limited funding. Fund managers currently favour sectors like PSU, industrials, and defence, while showing less enthusiasm for FMCG and auto.
Cement, infra are key sectors to look at because of prospect of policy continuity: Pankaj Pandey
Pankaj Pandey discusses the impact of the incumbent government's majority on the market, focusing on earnings, Budget expectations, and sector performance post-elections. Pandey further says once this monsoon gets over the focus will shift towards the overall infra spend side. Cement has not seen much of a price performance and key players like ACC, Ambuja, UltraTech or JK Cement are going to experience a slightly better growth rate than the industry.
As Adani tries to build a challenge, Birla cements leadership with UltraTech
In the highly competitive cement industry in India, the Adani Group faces challenges in catching up to the leader, UltraTech Cement, owned by the Aditya Birla Group. UltraTech recently crossed 150 million tonnes in production capacity and plans to further increase it to 200 million tonnes. Adani has made strategic acquisitions but will need more to gain market share. The overall cement industry in India is expected to add significant capacity in the coming years, driven by infrastructure and housing demand.
F&O stocks: Indian Hotels, Ambuja Cements among 5 stocks with short buildup
Coming to the buildup of fresh short positions, when the stock prices move downward and open interest on the counter increases, it is taken as a sign of a short build-up.
How GQG's $11 billion India empire is growing fast beyond Adani
Rajiv Jain's GQG empire in India has expanded to $11 billion, diversifying beyond Adani stocks to include stocks from various sectors like energy, banks, real estate. The portfolio now comprises a wide range of stocks.
Adani Group targets 20% share in Indian cement market by FY28
Gautam Adani-led Adani group, which owns Ambuja Cements and ACC Ltd, is targeting to capture around one-fifth of the Indian cement market by FY28. Adani Cement business will implement its accelerated capex program through internal accruals and the business will continue to "remain debt free," said an investor presentation shared by Ambuja Cements.
F&O Ban List: Zee under trade ban on Monday. Hindustan Copper moves out
The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban is reversed only if the open interest falls below 80%.
T+0 trade settlement scrip list released: Bajaj Auto, SBI, and 3 Tata Group stocks part of the list
Stock exchanges will introduce the beta version of ‘T+0’ or same-day trade settlement in the 25 scrips in the cash segment from Thursday.
Adani bonds, shares decline as US expands probe into the group
A note from unit Adani Ports & Special Economic Zone Ltd. due in 2041 slid 2.4 cents, the most since August, to 79.1 cents. Another bond from subsidiary Adani Renewable Energy RJ Ltd. due 2039 fell 2.3 cents to 83 cents, the worst drop since February 2023. That pares gains in recent months that sent the securities to their highest levels since 2022.
Jefferies picks 11 stocks that can deliver 15-25% CAGR return for 5 years
Global brokerage firm Jefferies has released a list of 11 stocks that it believes can deliver 15-25% CAGR over the next five years. Stocks with the highest upside include Macrotech, Axis Bank, Max Healthcare and Amber.
Hemang Jani on 3 Adani group stocks that could be great election plays
Hemang Jani says there is no need to react in a knee-jerk manner. The correction is providing a great opportunity. advises The market correction presents opportunity for balanced investment in largecaps, midcaps, and smallcaps. Adani, Ambuja, ACC, IDFC First, PSU banks, BEML, Max Health, Apollo Hospitals, Lemon Tree, Indian Hotels are good buys.
Adani stocks surge up to 8%; Adani Green, Adani Wilmar among top gainers
The gains in Adani Green Energy were following the company's announcement that its wholly-owned step-down subsidiary Adani Renewable Energy Fifty Nine Limited has entered into power purchase agreements (PPAs) with Solar Energy Corporation of India (SECI) for the supply of 534 MW of solar power projects
Adani Group stocks plunge up to 13% amid market rout; erase Rs 90,000 crore in m-cap
Adani Enterprises and Adani Ports & Special Economic Zone cracked around 7%., while Adani Power, Adani Wilmar, ACC, Ambuja Cements, and New Delhi Television shed up to 5%. The fall in the group stocks was amid weakness in the overall market.
Sanghi Industries gets shareholder nod for related-party transactions
Sanghi Industries secures shareholders' consent for related-party transactions with ACC, Ambuja Cements, and Adani Enterprises. Despite some opposition, the resolutions pass, allowing the company to sell its cement and clinker to ACC and Ambuja, and purchase coal from Adani Enterprises.
Sanghi gets shareholders' nod for related-party transactions
Of the public institutions that voted, a little over 93% were in favour of the transactions related to ACC and Ambuja Cements. Voting in non-institutional public shareholders showed nearly 86% in favour of the transaction.
InGovern Research advises Sanghi shareholders to vote in favour of resolutions
Gujarat-based Sanghi Industries, in which Ambuja Cements acquired a majority stake last year, has called for an extraordinary general meeting on Feb 8, Thursday to get shareholders’ consent.
Sudip Bandyopadhyay still prefers private banks to NBFCs; remains gung-ho on cement stocks
Sudip Bandyopadhyay says cement goes much beyond real estate. There is a construction boom. There is a lot of infrastructure work happening. Railways are making major capex and that in most of the cases also involves use of cement. So, by and large, the demand for cement is going up and will continue to go up in the near future as well.
Cement producers outperform on strong volume growth prospects
Shares of major cement producers outperformed the broader market this week on prospects of robust volume growth and improved profitability due to lower input costs in the second half of the current fiscal.
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