Adani's Ambuja to acquire 46.8% stake in Orient Cement

25 Oct 2024 CW Team

The Adani group’s Ambuja Cements on Tuesday announced its third acquisition of the ongoing financial year, with a binding agreement to acquire a 46.8% stake in the C K Birla family-owned Orient Cement Limited (OCL) for an equity value of Rs 810 billion. The deal, set to trigger an open offer, will push the Adani group’s cement capacity to 97.4 million tonnes per annum (mtpa) but still behind India’s largest producer, UltraTech Cement, which has a capacity of 150.7 mtpa. To meet market regulations, Ambuja Cements will make an open offer at Rs 395.40 per share to the public shareholders of OCL. The company, it said, plans to acquire 37.90 % from OCL’s promoters and another 8.90 % from other shareholders under the share purchase agreement. In addition, a further 26 % stake in the expanded share capital pursuant to the open offer. Orient Cement, in Tuesday's trade, closed at Rs 343.40 per share, down 2.5 percent.

Infrastructure Transport

05 Feb 2026

MMRDA Installs 325-Tonne Steel Spans on Mumbai Metro Line 4

The Mumbai Metropolitan Region Development Authority (MMRDA) has achieved a key construction milestone on Metro Line 4 with the successful installation of three large steel spans at Bhandup West during overnight operations.The spans, together weighing 325 metric tonnes, were launched using eight heavy-duty cranes and 12 multi-axle vehicles. The operation required precise engineering and meticulous planning to minimise disruption in the densely populated suburban area.Due to effective inter-agency coordination, the work—originally scheduled across four nights—was completed within just two n..

CMRL Targets March 2027 Opening for Vadapalani–Panagal Park

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Maha-Metro Invites Pune Metro Civil Maintenance Bids

Maharashtra Metro Rail Corporation Limited (Maha-Metro) has invited bids for the annual civil maintenance contract of the Pune Metro Rail Project. The tender, bearing ID and number P1-O&M-20/2025, is scheduled to close on 23 February 2026, with a pre-bid meeting slated for 10 February 2026. The earnest money deposit (EMD) for the contract is Rs 3,50,500, and the duration of the contract is one year.The scope of work includes annual civil maintenance of 28 elevated and underground stations, 28.079 km of elevated viaduct including steel bridges, 12.15 km of tunnels, and two depots under the ..