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The stocks of the Adani group are surging rapidly this year and show no signs of a trend change. In these conditions, Adani group plans to enter the cement space by acquiring one of the leading cement manufacturers in India, ACC Ltd and its subsidiary Ambuja Cement.
The news of Adani acquiring ACC and its subsidiary Ambuja cement has led to a massive rally of the stocks to the upside in the recent trading sessions. In a very recent speech, Adani mentioned his acquisition of ACC and Ambuja cement, in which he mentioned that the company's capacity will be doubled by the year 2030.
The chairman of the Adani group Mr Gautam Adani also mentioned his anticipation of the Indian economy, 'India will be a 25 to 30 trillion dollar economy,' he said in his latest speech.
In giving the reasoning on why Adani group chose cement, Adani mentioned, 'While India is second largest cement manufacturer, our per capita consumption is just 250 kilo as compared to 1600 kilos of China, this is almost 7x headroom for growth.'
'We anticipate going from the current 70 million tonnes capacity to 140 million tonnes in the next five years said Adani mentioning the growth plan for ACC and Ambuja Cement.
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