Adani sells 2.76% stake in Ambuja Cement for Rs 42.51 billion

27 Aug 2024 CW Team

A billionaire's entity sold approximately 2.76 per cent of its stake in Ambuja Cements on Friday through an open market transaction, raising Rs 42.51 billion. As per the NSE bulk deal data, Holderind Investments, which is an Adani Group entity, sold 60.8 million shares at a price of Rs 625.5 per share.

It was reported that Rajiv Jain's investment fund, GQG Partners, bought shares worth Rs 16.79 billion. Following this purchase, GQG Partners Emerging Markets Equity Fund, which held a 1.35 per cent stake as of June 30, 2024, increased its holding to 2.04 per cent. During the January to March 2024 quarter, GQG Partners reportedly raised its investments in six Adani Group companies by around Rs 83 billion.

Other buyers of Ambuja Cements shares included SBI Life Insurance and the National Pension System (NPS) Trust, which acquired shares valued at Rs 5 billion and Rs 4.50 billion, respectively. As of June 30, 2024, the Adani Group held a 70.33 per cent stake in Ambuja Cements, with Holderind Investments holding 50.90 per cent of that stake.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..