Adani Group Stocks: The competition for dominance and supremacy in the sector between Aditya Birla Group’s cement company, Ultratech Cement, and Adani Group’s cement companies is not hidden from anyone. Adani Group’s turn was after Ultratech Cement bought a stake in India Cement. Adani Group can buy India-based cement companies of German company Heidelberg Materials. For this, Adani Group has started talks with the German company.
According to an ET report, Adani Group’s Ambuja Cement can buy Heidelberg Materials’ cement companies in India for $1.2 billion or Rs 10,000 crore. Adani Group and Ultratech Cement are buying cement companies to increase market share. Heidelberg is one of the world’s largest cement companies, and it operates two locations in India: Heidelberg Cement and Zuari Cement. Heidelberg Cement is listed on the stock exchange.
After the news of Adani Group buying Heidelberg’s cement companies came to the fore, the stock of Heidelberg Cement jumped 18.34 per cent from the previous closing price of Rs 218 to Rs 258. The stock has now come down from the upper level and is trading at Rs 233.64 with a jump of 6.81 per cent. At the same time, the stock of Ambuja Cement is trading at Rs 589.50 with a decline of 3.50 per cent.
Adani Group entered the cement sector in 2022 by buying Ambuja Cement and ACC from Holsing Group for $6.4 billion. After this, Adani Group decided to buy Sanghi Cement for Rs 5185 crore and Penna Cement for Rs 10422 crore. At the same time, UltraTech Cement purchased a 32.72 percent stake in India Cement and made an open offer for a 26 percent stake.
