Ambuja Cement: For almost three weeks, the situation of Adani Group companies has not improved at all. Everyone from domestic investors to international firms are staying away from Adani in the wake of several allegations against the group’s businesses. Moreover, this topic has also become a political issue in the country. Finally, This Topic also climbed the steps of the court.
Adani hit a good jack pot at the current moment when the odds are completely against him. This was crucial for his newly acquired cement business. There are reports that Adani’s Ambuja Cement Limited has bagged a huge deal. Adani has been selected as the preferred bidder for the Uskalwagu limestone block in Odisha, the company said.
Limestone mines The Odisha government has conducted an e-auction for the Limestone block in Malkangiri district. Adani Group’s Ambuja Cement also filed a bid in this. However, it was not revealed how much the bid was filed. It is estimated that this block, which covers an area of 547 hectares, has a total of 141 million tonnes of limestone deposits.
Ambuja Cement disclosed to the stock market that the bid was received.Ambuja Stock.. Ambuja Cement stock gained 3 percent on the news of the winning bid. At 2.32 pm, the stock price of Ambuja Cements was at Rs.348.85. It is known that the stock value of the company has declined after the Hindenburg report.
In this order, the stock’s 52-week high price is Rs.598 while its 52-week low price is at Rs.274. The representative stock has lost nearly 34 percent of its market value over the year.