Cement industry rivalry may ease on Adani turmoil3 min read . Updated: 06 Feb 2023, 12:19 AM IST
The Adani group, which forayed into the cement business through its acquisition of Ambuja Cements and subsidiary ACC, had also shown its intent on doubling the capacities of the two firms over the next five years to around 140 million tonne per annum
NEW DELHI : Shares of Adani group cement producers—Ambuja Cements Ltd and ACC Ltd—have fallen 17-25% since 24 January after US short seller Hindenburg Research levelled allegations against the conglomerate. This contrasts with gains of 5.5-8.5% recorded by other cement manufacturers such as UltraTech, Shree Cement, and Dalmia Bharat during the period.
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