Adani family pumps ₹6,661 cr into Ambuja Cements
Adani family raises stake in Ambuja Cements by 3.6% to 66.7%
Adani family raises stake in Ambuja Cements by 3.6% to 66.7%
The integration of Sanghi Industries will help expand cement capacity to 15 MTPA in next 2 years, says Karan Adani, Adani Ports & SEZ.
The revenue from operations of Ambuja Cement increased by 8.4% year-on-year to ₹8,713 crore in the June quarter as against ₹8,033 crore in the same period last year.
Hindenburg Research accused the Gautam Adani-led conglomerate of "pulling the largest con in corporate history."
Jaiprakash Associates has decided to divest from the cement business completely.
The consolidation in the country's cement sector comes months after the Adani family forayed into the cement industry.
Dalal Street is seen opening lower on Tuesday, tracking losses across Asia and Wall Street as well as negative trade on SGX Nifty futures.