Ambuja Cements: Will the ‘cheap’ acquisition of Penna Cement make this Adani stock attractive
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 …