Ambuja Cement

The promoters have also prepaid a $500-million facility taken for Ambuja acquisition financing

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So far in the last two months, the Adani Group now have prepaid share-backed financing up to $2,016 mn as part of the promoters' commitment to cut overall leverage.

Industry players said the GQG investment will provide a floor to Adani stocks and also ease concerns around promoter-share pledges

Most managements continue to be positive on the cement demand, led by the government's thrust on infrastructure projects, pick-up in urban real estate, and likely recovery in the rural segment.

Stocks to watch today: HDFC concluded sale of 10-year non-convertible debentures (NCDs) of Rs 25,000 crore; Ambuja Cements was selected as 'preferred bidder' for Uskalvagu limestone block in Odisha

At the end of January, Quant MF had close to Rs 950 crore investment in Adani Ports and Ambuja Cement

Shares of eight of the 10 group firms closed in the red, while two companies settled in the green territory on Friday

The overall sentiment towards the cement stocks has remained lacklustre amid a gradual decline in their share prices, and a reduction in GST could help to lift this sentiment.

The decision to undertake an independent assessment comes at a time when investor faith in the group has been shaken

In past seven trading days, the total market capitalisation (market-cap) of 10 Adani group companies has eroded by nearly Rs 10 trillion or 52 per cent to Rs 9.27 trillion in Friday's intra-day trades

Hindenburg Research said that it was shorting Adani group's stocks and accused the firms of 'brazen' market manipulation and accounting fraud

Analysts expect H2 to be better and infra spending to be hiked in the Budget; benign energy prices and demand improvement are other triggers

Adani currently holds 63.15 per cent stake in Ambuja Cement and 56.69 per cent in ACC

The industry's combined quarterly earnings in Q2FY23 were the lowest since July-September 2013

Except Ambuja Cements, Ultratech Cement, Ramco Cements, and India Cements need to surpass crucial key levels to lead to a rally ahead

Cement major on track to reach 131.25 mtpa by Q4

On a sequential basis too, the company's profit tanked 94 per cent from Rs 865 crore earned in the April-June period

Ambuja Cements, now part of the Adani Group, on Friday reported a fall of 94.24 per cent in its consolidated net profit at Rs 51.30 crore for the September quarter, mainly due to rising fuel prices and related inflationary impact. The company had clocked a net profit of Rs 890.67 crore in the year-ago quarter, Ambuja Cements said in a BSE filing. Its revenue from operations rose 7.46 per cent to Rs 7,143.17 crore as compared to Rs 6,647.13 crore in the corresponding quarter of the previous financial year. Total expenses were at Rs 7,179.90 crore, up 29.51 per cent from Rs 5,543.51 crore a year ago. The consolidated results of Ambuja Cements includes the financial performance of its step-down firm ACC Ltd, in which it owns around 51 per cent stake. On a standalone basis, Ambuja Cements reported a decline of 68.74 per cent in its net profit to Rs 137.89 crore as against Rs 441.23 crore in the year-ago quarter. Its standalone revenue from operations climbed 13.37 per cent to Rs 3,67

Stocks to watch today: Adani Enterprises' subsidiary has acquired aircraft maintenance repair and overhaul unit Air Works for Rs 400 crore