GQG Partners bought 17.1 million shares of Ambuja Cements via a block deal on Friday. Other buyers included Morgan Stanley, Norges Bank, SBI Life Insurance, an ET Now report stated. Adani Group’s Holderind Investments sold 68 million shares in the cement maker, the report said. This is a developing story and more information is awaited. …
Here’s a quick look at stocks likely to be in focus in today’s trade. Adani Power: Adani Power has announced that the Hyderabad bench of the National Company Law Tribunal (NCLT) has approved its plan to acquire Lanco Amarkantak Power Ltd (LAPL). The acquisition involves an upfront payment of ₹4,101 crore. LAPL is currently undergoing …
Adani Power announced on Thursday that the Hyderabad bench of the National Company Law Tribunal (NCLT) has approved its plan to acquire Lanco Amarkantak Power Ltd (LAPL) with an upfront payment of ₹4,101 crore. LAPL is currently undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, as stated in a filing …
Indian shares declined on Monday, with all 10 Adani group stocks dropping after U.S. short-seller Hindenburg Research alleged the head of the country’s markets regulator held a stake in offshore funds used by the group. The NSE Nifty 50 index was down 0.31% at 24,291.55, as of 10:18 a.m IST, and the S&P BSE Sensex …
Adani Group-owned Ambuja Cements Ltd announced the acquisition of a 100 per cent stake in Penna Cement Industries (PCIL) for an enterprise value of Rs 10,400 crore for its 14mtpa of cement grinding capacity and 10.3mtpa of clinker capacity. The brokerage firm believe that this acquisition is done a cheap valuation and may make Ambuja …
Ambuja Cements, an Adani group firm on Thursday, June 13, announced the acquisition of Penna Cement Industries Ltd (PCIL) at an enterprise value of ₹10,422 crore. A binding agreement for the acquisition has been signed, which will add 14 MTPA capacity to Adani group, taking the total tally to 89 MTPA (million tonnes per annum). …
Stock Market News: Domestic equity benchmark indices, the Sensex and Nifty 50, lost direction during Monday’s trading session amid mixed global cues. Gains were pared after the benchmark Nifty 50 reached a new high at the opening, pulled down by a decline in metals due to worries over valuation. On Monday, BSE Sensex opened higher …
Two people with direct knowledge of the matter confirmed this, adding the move will not only help Adani Group repay the entire loan taken for acquiring Ambuja Cements Ltd and ACC Ltd, but may also reduce the group’s cost of capital. The consortium includes Deutsche Bank AG, Standard Chartered Bank plc, Barclays plc, Citibank NA, …