Thursday, February 15, 2024
Home News Ambuja stock dips 4%, ACC hits new 1-year low after Adani unveils...

Ambuja stock dips 4%, ACC hits new 1-year low after Adani unveils goal blueprint. Is there more steam?

Ambuja Stock,

On Tuesday, Adani’s cement shares saw a lot of selling. Both Ambuja Concretes and ACC shares declined by around 4% each. Ambuja and ACC both fell after the cement conglomerate backed by Gautam Adani unveiled its strategy for the future. Some of the main goals were to double the collective capacity, focus on states with high growth, increase demand, increase shares in various verticals, and diversify the asset footprint.

Ambuja stock is currently at its lowest point of the day. As of the time this article was written, Ambuja Cements’ shares were down 12.75 percent, or 3.45%, on the BSE. The initial day’s intraday low was 354.20, representing a loss of at least 4.2%. So far, the company has a market cap of more than 71,036 crores.

Meanwhile, ACC shares lost 73.65 percent, or 4.4 percent, to trade at Rs. 1,611.15 on the BSE. Earlier in the day, the stock reached a new 52-week low of 1,593.50.

Adani’s largest cement-related stock is Ambuja Cements. Ambuja, on the other hand, holds Adani’s majority stake in ACC.

As of December 31, 2022, the group owns 63.15 percent of Ambuja Cement, which also owns 50.05 percent of ACC Ltd. Adani owns 6.64 percent of ACC directly.

On March 27, Adani presented its plans to investors in a presentation that doubled the company’s capacity from the current 67.5 MTPA to 140 MTPA in the cement industry (Ambuja and ACC). The company has invested 7,000 crore in capital to increase capacity to 140 MTPA by debottlenecking and unlocking additional capacity. Likewise, Adani anticipates that net deals should increment by 70,000 crore when contrasted with FY28 monetary year 29,700 crore in FY23 up to this point.

Adani also wants to increase EBITDA per tonne. 1,470 from now until 1,000 in FY28. In addition, it is anticipated that the EBITDA margin will rise to 25% from 19% in FY28.

To meet India’s cement demand, the group is also planning a well-diversified asset footprint, including a captive coal mine at Dahegaon Gowari and Gare Palma. By utilizing the Group’s extensive experience and unparalleled proximity in all crucial areas, such as the Group’s infrastructure and digital platforms, energy costs, and supply chain, Adani also aims to achieve the lowest cost to service.

RELATED ARTICLES

Markets end FY23 in style; Sensex Nifty rally nearly 2% on firm global trends

Market, The final day of the fiscal year 2022-23 saw gains for benchmark indices, with a gain of nearly 2% on Friday, extending gains for...

Day trading guide for today: 6 stocks to buy or sell on Friday — 31st March

Trading, Day trading guide for today: Indian shares gained on Wednesday as global markets' increased risk appetite was aided by easing in the banking industry....

Financial, IT stocks aid Indian shares snap three-month losing streak

Financial, By Bharat Rajeshwaran BENGALURU (Reuters) - Indian shares rose on Friday, supported by a higher weighting of financial stocks and information technology (IT) stocks,...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

SIGNUP & GET $10000 BONUS

Most Popular

Trading the Inside Bar Pattern on Pocket Option Platform

Inside Bar Pattern Introduction Price movement on a chart is examined in price action trading. You may use candlesticks to predict where prices will move...

“Unlocking the Secrets: 4 Tricks of Successful Traders on Pocket Option Platform”

For a year, I have been trading on the Pocket Option platform. I sometimes succeed and sometimes fail. However, I was confident that if...

Identifying Mistakes That Lead to Losses on Pocket Option

Why do people lose their money when trading binary options New traders frequently take a significant financial risk while trading binary options. As a result,...

Weekly Income Plan on Pocket Option Platform”

Get weekly returns on Pocket Option It turned out that October was a terrific month for me. I am still able to generate money every...

Recent Comments