paragraph

Billionaire Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim's stake in Ambuja Cements and its subsidiary ACC for $10.5 billion (around ₹81,361 crore), including the open offers.

Shares of <a target="_blank" href="https://mintgenie.livemint.com/stocks/adani-enterprises-S0003094">Adani Enterprises </a>were up by 2.91% at ₹2,104/share from its previous close on the BSE.&nbsp;

Other group stocks include <a target="_blank" href="https://mintgenie.livemint.com/stocks/adani-power-S0003083">Adani Power</a>, <a target="_blank" href="https://mintgenie.livemint.com/stocks/adani-ports-%2526-special-economic-zone-S0003086">Adani Ports and Special Economic Zone</a>, <a target="_blank" href="https://mintgenie.livemint.com/stocks/adani-transmission-S0003321">Adani Transmission</a>, <a target="_blank" href="https://mintgenie.livemint.com/stocks/adani-green-energy-S0003149">Adani Green Energy</a>, and <a target="_blank" href="https://mintgenie.livemint.com/stocks/adani-total-gas-S0003156">Adani Total Gas</a>, which were up by 1-5 per cent in Monday's trade.&nbsp;

The value for the <a target="_blank" href="https://mintgenie.livemint.com/news/markets/holcim-mulls-over-exiting-indian-market-considering-the-sale-of-ambuja-cements-report-151649915647560">Holcim</a> stake and open offer consideration makes this the largest ever acquisition by Adani, and India’s largest-ever M&amp;A transaction in the infrastructure and materials space. "Our move into the cement business is yet another validation of our belief in our nation's growth story," said Gautam Adani, chairman of the group.

<blockquote class="twitter-tweet">Our belief in the India story is unshakeable. Combining <a href="https://twitter.com/Holcim?ref_src=twsrc%5Etfw">@Holcim</a>&#39;s cement assets in India with our green energy and logistics will make us the world&#39;s greenest cement company. Jan Jenisch has been terrific to work with. We welcome the <a href="https://twitter.com/AmbujaCementACL?ref_src=twsrc%5Etfw">@AmbujaCementACL</a> &amp; <a href="https://twitter.com/ACCLimited?ref_src=twsrc%5Etfw">@ACCLimited</a> teams. <a href="https://t.co/iThyLp92iV">pic.twitter.com/iThyLp92iV</a>&mdash; Gautam Adani (@gautam_adani) <a href="https://twitter.com/gautam_adani/status/1525870462051397634?ref_src=twsrc%5Etfw">May 15, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

With this, Adani now becomes India’s second-largest cement manufacturer with a capacity of about 70 Metric Tonnes Per Annum (MTPA), the statement added.Holcim owns 63.19 per cent in <a target="_blank" href="https://mintgenie.livemint.com/stocks/ambuja-cements-S0003102">Ambuja Cement </a>and 4.48 per cent in ACC. Ambuja Cement, in turn, owns 50.05 per cent in ACC.The open offer price per share for Ambuja Cements will be ₹385 while that of ACC will be at ₹2,300, according to a stock exchange filing.Holcim purchased a 14.8 per cent share in Ambuja Cement for ₹2,100 crore in 2006, bringing Holcim's total ownership in the company to 34.8 per cent. In 2007, Holcim paid Rs. 5,497 crore for an additional 24 per cent share in the company.In November 2015, Holcim has increased its shareholding in Ambuja Cement Ltd. to 63.11% post the acquisition of additional 3.91 crore shares.<a target="_blank" href="https://mintgenie.livemint.com/news/markets/gautam-adani-s-group-is-in-advanced-talks-to-buy-acc-ambuja-cement-report-151651028443790">Adani Group’s</a> flagship firm, Adani Enterprises Ltd., has two cement subsidiaries. According to a compliance report in November, Adani Cementation Ltd. is planning to build an integrated facility in Gujarat. The group established Adani Cement Ltd. in June 2021.Adani has in the last couple of years diversified beyond the core business of operating ports, power plants, and coal mines into airports, data centres, and clean energy.

Adani Group stocks trade higher on $10.6-billion Holcim deal

Holcim owns 63.19 per cent in Ambuja Cement and 4.48 per cent in ACC. Ambuja Cement, in turn, owns 50.05 per cent in ACC.

Best time to invest is when market sentiment is negative:  Sushant Bhansali, CEO, Ambit Asset Management

Diagnostic stocks buzzing; shares of Metropolis Health, Lal PathLabs fall up to 7%

Macquire says DMart is likely to ‘outperform’; cuts price target by 3%

Why are Indian stock markets falling? 5 major factors at play

Soda ash prices to boost Tata Chemicals' growth

Grey market: What is it? Should you trade in grey market and other questions answered

Inflation at 8-year high; What should you do with your money and investments?

This year is going to be a difficult one to make money: Jimeet Modi, Founder & CEO, Samco

Market Wrap: Sensex, Nifty end 4% lower this week; investors lose nearly ₹14 lakh crore in a week

Sensex rises almost 1300 points this week despite headwinds; what is underpinning market sentiment?

<ul><li>The fall in crude oil and other commodity prices seems to have boosted the mood of the market. Besides, RBI's efforts to arrest the fall of the rupee and improvement in macroeconomic indicators are also supporting the market.</li></ul>

Bitcoin holds steady over $20,000; Ethereum and other altcoins in green

The world's largest cryptocurrency, was up on the day slightly 1.21 percent, trading at $20,400 while Ether rose 3.17 percent to 1,174 over the previous day.

Valuations of Asian stocks hit lowest since March 2020

The MSCI Asia-Pacific index's forward 12-month price-to-earnings ratio (P/E) stood at 12.1 at the end of last month, which was the region's cheapest valuation since March 2020, Refinitiv data showed.

TCS Q1 Results: Analysts expect mixed numbers; impact of macro headwinds key

<ul><li>Owing to a sharp rise in inflation and rate hikes, the risk of a recession has increased and most brokerage firms and analysts believe IT companies may see their demand scenario shrinking.</li></ul>

New Investor? Learn what are flag chart patterns and how to trade with them

A popular technical analysis tool, flag patterns are formed by price action contained within a narrow rectangle-shaped or a flag-shaped channel. To learn more about it, keep reading.