Gautam Adani, Asia’s richest person and the head of Adani Group, is in the headlines these days for his business deal. Not only Adani but his investors are also getting huge profits from these deals. According to the information, on Sunday (15-May-2022) Adani Group has signed a deal with Switzerland’s Holcim Group to buy its India cement business for $10.5 billion. Holcim Group holds 63.19 per cent stake in India’s leading cement companies Ambuja while ACC is a subsidiary of Ambuja Cement.
On Monday (16-May-2022), investors made profits in Ambuja Cement and ACC Cement as soon as the news of the acquisition by Adani Group was received. After the market opened, the shares of Ambuja and ACC saw a jump of up to 8 per cent.
Share of ACC Cement: On BSE, ACC’s share opened at an upper price of Rs 2149, while on Friday it closed at a price of Rs 2,113. At the same time, during this period, the share of ACC rose 8.25 percent to touch the upper level of Rs 2,288.
Shares of Ambuja Cement: After this deal, investor’s trend towards Ambuja Cement shares was shown. The company’s stock rose 5.77 per cent to touch Rs 377.5 per share on the BSE, while Ambuja Cement’s stock closed at Rs 358 on Friday.
Adani Enterprises also gained momentum: Adani Enterprises, the flagship company of Adani Group, also saw a strong rally today, the stock gained more than 4 percent during the trading session. During this the stock touched the level of Rs 2150. On Friday, Adani Enterprises closed at the level of 2055. Let us tell you, last year, on behalf of Adani Group, it was informed to the stock exchange that Adani Cement has been formed under its flagship company Adani Enterprises. At the same time, the news of its Adani Cement setting up two cement plants in Gujarat and Maharashtra had also gained momentum.
Adani Cement becomes the second largest producer of cement in the country: Adani Group has become the second largest producer of cement in the country after UltraTech Cement, after Ambuja and ACC Cement. UltraTech Cement has an annual production capacity of around 117 million tonnes, while Ambuja and ACC Cement have a combined production capacity of around 70 million tonnes.