UltraTech enters race to buy Holcim’s stake in Ambuja Cement, ACC

12 May 2022 CW Team

UltraTech Cement of the Aditya Birla group has formally joined the race to acquire Swiss cement giant Holcim’s stake in Ambuja Cement and ACC Limited.

Gautam Adani-owned Adani Group, and Sajjan Jindal’s JSW group jumped into the race to acquire control that would instantly boost their position in the cement market.

On Wednesday, Ambuja Cements' shares opened in the green at Rs 360.80 apiece on the Bombay Stock Exchange (BSE), while the ACC scrip rose to Rs 2,207 apiece. The Aditya Birla Group is ready to divest voluntary assets of approximately 15 million tonnes per annum (mtpa), as a solution to comply with market share norms.

India’s antitrust body, the Competition Commission of India (CCI), has provided long-form merger notifications in eight out of 16 cement agreements since 2011. Of these eight, UltraTech independently had filed for five since 2013 with the CCI.

UltraTech was optimistic about getting the antitrust regulator’s green signal.

CCI lawyers are of the view that if firms can come up with possible solutions, approvals can come in as early as 30 working days. All five Aditya Birla Group cement agreements have been approved within the 30-working day period – also known as phase I approvals.

However, in phase II approvals, the regulator can take up to 210 calendar days from the time of obtaining the application to clear a proposal, if no corrective measures are provided.

Birla will volunteer a remedial plan involving divesting assets for a fast phase I approval.

Given the strong market presence of both players coupled with the oligopolistic nature of the industry, the CCI will generally concentrate on the combined market shares of parties, the extent of barriers to access in the market, and the position of their competitors in the market.

Image Source

Also read: JSW, Adani set to battle for Holcim's India cement assets

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..