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Ambuja Cements, the cement and building material company of the diversified Adani Portfolio, signs definitive agreement to acquire……… - Newsx
The competition heated up in the Indian cement industry after Adani's take over of Ambuja Cement and ACC Ltd., which placed Adani in direct competition with UltraTech. Analysts expect the war for market share to continue and may lead to price wars even as new capacities are added.
Ambuja, with its subsidiary ACC Ltd, recently acquired Sanghi Industries Ltd which has a capacity of 74.6 MTPA with 18 integrated cement manufacturing plants and 14 cement grinding units across the country.
Axis Securities has a ‘buy’ call on the stock with a target price of ₹2,615, implying a potential upside of 10 percent. This is on the back of its attractive valuations, strong growth opportunities, positive company-specific triggers, and macroeconomic tailwinds.
Odhisha Green Hydrogen Investment: The investment proposals in apparel and textiles, green hydrogen and green ammonia, steel, power and renewable energy, chemical and petrochemical downstream sectors were approved at the High-Level Clearance Authority (HLCA) meeting chaired by the chief minister on Friday, the official said.