look news india
Asia's second richest man is about to acquire another company. Approximately Rs. Business deal worth Rs 8100 crore is about to be finalized. Adani Group owner Gautam Adani is going to buy Orient Cement Limited of CK Birla Group. The company will be merged with Adani Group's cement company Ambuja Cements Limited.
Rise in company shares
It is noteworthy that Adani Group's Ambuja Cement Company is the second largest cement company in the country. Whereas Aditya Birla Group's cement company UltraTech Cement Limited is at number one in the ranking. On the announcement of this new business deal, shares of Orient Cement jumped 7 percent, while shares of Ambuja Cement Company also jumped 2 percent. With this, the production capacity of Ambuja Cement is expected to reach 100 MTPA in 2025.
deal worth 8100 crores
Ambuja Cement now Rs. Rs 8,100 crore to acquire 46.8 percent stake in Orient Cement Limited. With this, its total production capacity will reach 100 million tonnes per year in 2024-25. With this, the total share of Ambuja Cement in the Indian cement market will increase by 2 percent. Ambuja Cement is part of Gautam Adani's cement business. Apart from Ambuja, Adani Cement also includes ACC Limited.
Know about Ambuja Company
Let us tell you that Ambuja Cements Limited is one of the leading cement companies of India and is an enterprise of Adani Group. It is the world's largest and fastest growing brand of cement. Ambuja's subsidiaries are ACC Limited, Penna Cement Industries Limited and Sanghi Industries Limited. The company has 20 cement manufacturing plants, 20 cement grinding units and 12 terminals across the country.