Adani Group: Adani Set to Strengthen Its Hold in the Cement Sector! May Buy Heidelberg's Cement Business for ₹10,000 Crore - Times of Kashi

Adani Group: Adani Set to Strengthen Its Hold in the Cement Sector! May Buy Heidelberg’s Cement Business for ₹10,000 Crore

Nikhil Jain
By Nikhil Jain Add a Comment

The competition between Aditya Birla Group’s Ultratech Cement and Adani Group’s cement companies for dominance in the cement sector is no secret. After Ultratech Cement acquired a stake in India Cement, it’s now Adani Group’s turn. Adani Group is reportedly in talks to buy the cement businesses of the German company Heidelberg Materials in India.

According to a report by ET, Adani Group’s Ambuja Cement might buy Heidelberg Materials’ Indian cement companies for $1.2 billion or ₹10,000 crore. Both Adani Group and Ultratech Cement are trying to increase their market share by acquiring more cement companies. Heidelberg is one of the largest cement companies in the world and operates in India under the names Heidelberg Cement and Zuari Cement. Heidelberg Cement is also listed on the stock exchange.

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Following the news of Adani Group’s interest in acquiring Heidelberg’s cement companies, Heidelberg Cement’s stock saw a sharp rise, jumping 18.34% from its previous closing price of ₹218 to ₹258. However, the stock has since dropped and is now trading at ₹233.64, up 6.81%. On the other hand, Ambuja Cement’s stock fell by 3.50% and is currently trading at ₹589.50.

Adani Group entered the cement sector in 2022 by acquiring Ambuja Cement and ACC from the Holcim Group for $6.4 billion. Since then, Adani Group has decided to purchase Sanghi Cement for ₹5,185 crore and Penna Cement for ₹10,422 crore. Meanwhile, Ultratech Cement acquired a 32.72% stake in India Cement and made an open offer for an additional 26% stake.

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Nikhil Jain, an Indian journalist and social activist from Ahmedabad, is known as the founder of timesofkashi.in. This website serves as a platform for news and information, particularly focusing on issues relevant to the Kashi region and beyond. Nikhil Jain's journalism and activism aim to highlight local stories and contribute to public discourse on various social and political issues.
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