Ambuja Cements ACC

Adani Enterprises locked 10 per cent lower circuit, while Adani Ports, Adani Power, Adani Transmission, Adani Total Gas, Adani Green Energy and Ambuja Cements were down up to 6 per cent

UltraTech Cement said that rising government spending, recovery in the rural economy on a pickup in farm incomes and pre-sales of housing real estate should also help the industry recover.

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 Adani group holds 63.15 per cent in Ambuja Cements and 56.69 per cent in ACC (of which 50.05 per cent is held through Ambuja Cements)

Analysts remain positive on Ambuja Cement's long-term market share gains, but caution against any possible dent in the company's profitability due to excess supply in the market

The board of directors of Ambuja Cements is scheduled to meet on September 16, 2022 to consider and evaluate proposal for raising of funds

The response was poor as the current market price is far above the open offer price, bankers said

The shares of Ambuja Cement closed at Rs 453 a share -- far above the open offer price of Rs 385 a share -- making the offer unattractive for its shareholders.

The group, led by Asia's richest person Gautam Adani, is set to make an offer to buy 26% of Ambuja Cements Ltd. for 385 rupees per share and the same stake for 2,300 rupees per share of ACC Ltd

Consolidated net sales rose 15.1 per cent to Rs 7,943 crore in the April-June period versus the same period last year

This will be the first result announcement by the company since it was acquired by the Adani group in May 2022

The CEO said the smoothness of the execution of such a transaction was a major factor in taking the decision.

Expansion plans by most larger players despite glut in markets, fuel price-driven cost pressure and resistance from market to absorb higher cost may force weaker players out

But, whether players maintain discipline or turn aggressive on pricing as new capacities come on stream will be crucial

While there are curbs on banks for directly funding takeovers and acquisitions, banks will assess any room for funding via overseas branches and subsidiaries when exposure review is done

India-Mauritius treaty allows tax exemption on such agreement, says Swiss company's CEO.

Adani group aiming at 100 mn tonnes per annum combined, from present 70 mn tonnes; both firms to invest with own cash and fresh debt; ACC-Ambuja merger on cards

From Gautam Adani winning the race for Ambuja Cement to Sebi forming expert panel on FPIs, here are the top headlines on Monday

The Adani Group is hammering out the final details of a $10 billion deal for 63.1% of Ambuja Cements Ltd. along with related assets