Sale Of Shares In Ambuja Cements; Adani Companies To Stand Out Again

Gautam Adani is selling 4 to 4.5 percent stake in Ambuja Cements and ACs. It is trying to sell the shares of Ambuja Cements for 45 crore dollars. The stake in these companies is reduced to raise money to repay debts. Meanwhile, the promoters have pre-paid the loan of 50 crores of Ambuja Group. Last year, Adani Group acquired Holcim Limited’s Indian cement businesses, Ambuja Cements and ACC Limited. The acquisition was for 660 crore dollars.

Adani’s partial stake sale, including that of Ambuja Cements, is part of the group’s efforts to restore investor confidence lost after the Hindenburg report and allay concerns over the group’s debt. At the same time, there are indications that GQG Partners may invest in the growth potential of the company. This may increase the share price.

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Adani Group has invested $260 crore in ACC and Ambuja Cements. The deal included the acquisition of Holcim’s stake in Ambuja and ACC as well as an open offer in both firms by Adani. . Adani Group has 63.15 per cent stake in Ambuja Cements and 56.69 per cent stake in ACC.

The acquisition was aimed at becoming the leader in this field by 2030.
At present, Ambuja Cements and ACC have a combined cement production capacity of 67.5 MTPA. These brands boast 14 mixing units, 16 grinding units, 79 ready-mix concrete plants and over 78,000 distributors across India. Both the companies are strong cement brands in India.

Technically strong ACC has an average target price of Rs 2,388.70. According to reports, this is a stock that has the potential to rise in price up to 28.03 percent. Similarly there may be volatility in price. Now the share price is Rs 1772. In case of Ambuja Cements, the resistance level is Rs 413. . Below the support level of Rs 375, the price may reach the level of Rs 355-324. Now the share price is Rs 367.
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