Adani Group Promoter Sells 2.8% Stake in Ambuja Cements for Rs.4,250 Cr

27 Aug 2024 CW Team

The Adani Group, one of India's largest conglomerates, has sold a 2.8% stake in Ambuja Cements, raising ?4,250 crore. This move is part of the group's ongoing strategic adjustments across its portfolio. The sale was executed by one of the group's promoter entities, aiming to realign resources and strengthen the balance sheet amidst challenging market conditions.

Ambuja Cements, a leading player in the Indian cement industry, has been a crucial asset for the Adani Group since its acquisition. However, this stake sale indicates a potential shift in the group's approach to managing its investments in the cement sector. Despite this divestment, the Adani Group remains a significant shareholder in Ambuja Cements, retaining control over its strategic direction.

The transaction has garnered attention in the market, reflecting investor confidence in the company's future prospects. Analysts believe that this move could provide the Adani Group with the necessary liquidity to fund other ventures or reduce debt, thereby enhancing its overall financial stability.

The cement industry in India is witnessing consolidation, with large players like Adani and UltraTech Cement dominating the market. The sale is seen as a tactical decision to optimise the group's investment portfolio and maintain its competitive edge in the infrastructure and construction sectors.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..