A total of 43,185 shares changed hands on the counter till 10:30AM (IST)

The Relative Strength Index of the stock stood at 42.91 on Friday.

Jefferies maintained a buy rating on L&T with a target price of Rs 3050. H1 should see order flow traction as elections drive front-ended FY24E order flow.

A total of 33,795 shares changed hands on the counter till 12:12PM (IST)

A total of 29,327 shares changed hands on the counter till 01:04PM (IST).

Companies that manage to raise funds through public listing, share sale to private equity or through the sale of assets prefer to pay up the credit availed from such funds, which are usually at near usurious interest rates, rather than waiting for the debt to mature.

Promoters held 0.0 per cent stake in the company as of 30-Jun-2023, while FII and DII ownership stood at 12.45 per cent and 5.57 per cent, respectively.

A total of 58,406 shares changed hands on the counter till 12:48PM (IST)

The stock quoted a 52-week high price of Rs 598.15 and a 52-week low of Rs 315.3.

Promoters held 0.0 per cent stake in the company as of 30-Jun-2023, while FII and DII ownership stood at 12.45 per cent and 5.57 per cent, respectively.

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Promoters held 0.0 per cent stake in the company as of 30-Jun-2023, while FII and DII ownership stood at 12.45 per cent and 5.57 per cent, respectively.

As of 30-Jun-2023, promoters held 0.0 per cent stake in the company, while FIIs held 12.45 per cent and domestic institutional investors had 5.57 per cent.

A total of 47,004 shares changed hands on the counter till 01:59PM (IST)

Adani Group is in discussions with banks to refinance debt taken on for the acquisition of Ambuja Cements Ltd. The total amount to be refinanced is expected to be $3.5 billion. Adani would repay at least $300 million on the original Ambuja facility. DBS Group, First Abu Dhabi Bank, Mizuho Financial Group are among the banks that would lend money.

A total of 73,954 shares changed hands on the counter till 11:11AM (IST)

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A total of 86,872 shares changed hands on the counter till time (IST).

On the technical charts, the 200-day moving average of the stock stood at Rs 440.05.

The stock quoted a 52-week high of Rs 598.15 and a 52-week low of Rs 315.3.

A total of 51,111 shares changed hands on the counter till 10:15AM (IST).

Crossing the 50-day SMA signals potential upside trends and positive market sentiment.

On the technical charts, the RSI of the stock stood at 48.31.

The stock quoted a 52-week high price of Rs 598.15 and a 52-week low of Rs 315.3.

The Adani group - through its buyout of ACC and Ambuja Cements - is the second largest manufacturer of cement in the country. It plans to double its existing capacity to 140 million tonnes in five years with an estimated capital expenditure of ₹47,000 crore.

On the technical charts, the RSI of the stock stood at 44.33.

A total of 29,859 shares changed hands on the counter till time (IST).

Data analysed by ETMarkets showed that as many as 154 companies that are part of the BSE500, have seen operating profit growing at a faster pace than revenue in the last quarter.

On the technical charts, the 200-day moving average of the stock stood at Rs 447.77.

A total of 152,816 shares changed hands on the counter till 01:10PM (IST)

The crossing of the 200-day Simple Moving Average (SMA) can often signal significant shifts in stock price trajectories.

A total of 96,105 shares changed hands on the counter till 11:12AM (IST).

Ambuja Cements, incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 89959.66 Crore) operating in Cement sector.

A total of 135,892 shares changed hands on the counter till 01:04PM (IST)

The Adani Group flew the bankers to Mundra in Gujarat to showcase the infrastructure of Indias largest private port and elaborate on the conglomerates strong financial conditions and expansion plans, said the people who requested anonymity discussing private matters

The stock quoted a 52-week high price of Rs 598.15 and low of Rs 315.3.

Motilal Oswal recommended Neutral rating on Ambuja Cements with a target price of Rs 450 in its research report dated August 09, 2023.

The stock quoted a 52-week high of Rs 598.15 and a 52-week low of Rs 315.3.

In the August 12 resignation letter, Deloitte said it was resigning as auditor of APSEZ with immediate effect "because we are not statutory auditors of a substantial number of other Adani Group of companies." It went on to state that it had given a qualified opinion in audit of financial statements for quarters ended March 2023 and June 2023.

On the technical charts, the RSI of the stock stood at 59.31.

A total of 53,745 shares changed hands on the counter till 11:06AM (IST).

A total of 27,559 shares changed hands on the counter till 01:19PM (IST).

A total of 47,035 shares changed hands on the counter till 01:39PM (IST).

Adani-owned Ambuja Cements' recent acquisition is seen helping the company scale up capacity at a lucrative cost and emerge as one of the dominant players in western India over the medium term, although question marks remain over the immediate prospects of the freight-heavy primary building material that is decidedly regional in its pricing dynamics and determination of market power.

Emkay Global Financial recommended hold rating on Ambuja Cements with a target price of Rs 480 in its research report dated August 04, 2023.

Motilal Oswal recommended Neutral rating on Ambuja Cements with a target price of Rs 450 in its research report dated August 03, 2023.

Emkay Global Financial recommended hold rating on Ambuja Cements with a target price of Rs 480 in its research report dated August 02, 2023.

The fund was utilised to reduce the company's debt, including prepayment of term debt amounting to ₹210 crore and reduction of working capital debt of ₹100 crore.

"Sanghi Industries will be a debt-free company after the takeover. Ambuja and ACC combined had a cash balance of roughly Rs 11,800 crore as of Q1. This year, we would be adding another Rs 3,000 crore of free cash after capex, tax and dividends. With the Sanghi Industries acquisition, we would be looking to end this financial year with close to Rs 11,000 crore of cash," said Karan Adani.

ET had reported on July 25 that Adani Group's Ambuja Cements-ACC and JK Lakshmi Cement were leading the race to acquire the Ahmedabad-based cement maker.

The acquisition will be fully funded through internal accruals, said a statement from Ambuja Cements. Besides, it would make an offer to acquire another 26% or 6.71 crore equity shares from SIL's public shareholders

Ambuja Cements has taken a majority share in Sanghi Industries, buying the cement maker for Rs 5,000 crore ($667m). The company wants to exploit Sanghee's location, adjacent to the sea and coal mines, and its limestone reserves to establish the Kachchh plant as the cheapest clinker production plant in the country. Ambuja believes it can produce clinker for Rs 1,500-1,600 per tonne. Immediately after the acquisition, Ambuja plans to increase its cement capacity from 6.1 million tonnes to 10 million tonnes and further expand to 15 million tonnes in two years.

Ambuja Cements has taken a majority share in Sanghee Industries, buying the cement maker for Rs 5,000 crore ($667m). The company wants to exploit Sanghee's location, adjacent to the sea and coal mines, and its limestone reserves to establish the Kachchh plant as the cheapest clinker production plant in the country. Ambuja believes it can produce clinker for Rs 1,500-1,600 per tonne. Immediately after the acquisition, Ambuja plans to increase its cement capacity from 6.1 million tonnes to 10 million tonnes and further expand to 15 million tonnes in two years.

While Motilal Oswal maintained their neutral rating on the stock, Nuvama downgraded Ambuja Cements to ‘Hold’ from ‘Buy’.

Ambuja Cements, incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 93027.48 Crore) operating in Cement sector.

The stock traded at a P/E multiple of 45.29, while the price-to-book value ratio stood at 2.29.

Sanghi Cement is controlled by the family of Ravi Sanghi who are the promoters of the listed Sanghi Industries. Sanghi Industriess shares hit a 52 week high of Rs. 100.40 on Wednesday giving the company a market capitalization of nearly Rs. 2600 crore. Ambuja-ACC, JK Laksmi Cement and UltraTech are the top 3 cement players in Gujarat from where Sanghi Cement also derives a bulk of its revenues.

The cement industry is in the positive cycle of demand as well as cost factors, said Ajay Kapur, CEO of Adani Cement Industries Ltd.

The Relative Strength Index of the stock stood at 62.42 on Wednesday.

The second largest cement maker by market capitalisation is said to have shown interest in the company considering its valuation of Rs 6,000 crore.

Ambuja Cements: The deal by Ambuja Cements is likely to be announced as soon as Wednesday, the sources told Reuters. They did not share the exact stake percentage.

However, on a standalone basis, the net profit fell sharply to Rs 644.88 crore, down by over 38%, from Rs 1,048.78 crore.

Adani is India's second largest cement producer, behind UltraTech Cement. It owns Ambuja and its subsidiary ACC Ltd, which have a capacity to produce more than 65 million tonnes with more than a dozen manufacturing plants across India. Sanghi is one of the leading cement manufacturers from Gujarat state in western India. It has a production capacity of 6.1 million metric tonnes per annum, its website says.

A total of 68,933 shares changed hands on the counter till 10:40AM (IST).

A total of 73,168 shares changed hands on the counter till time (IST).

The Group is in talks with Barclays, Deutsche Bank and Standard Chartered to borrow between $600 million and $750 million to refinance the debt taken on to finance its purchase of Ambuja Cements

A total of 167,878 shares changed hands on the counter till 11:52AM (IST).

Barclays Plc, Deutsche Bank AG and Standard Chartered Plc are in talks to lend between $600 million and $750 million collectively to Adani Group, as part of discussions to refinance the debt taken to fund its purchase Ambuja Cements Ltd. If executed, the loan of as much as $750 million would be part of that broader refinancing. The talks havent yet concluded, and the amounts could still change.

A total of 107,355 shares changed hands on the counter till 11:47AM (IST).

At Ambuja Cements, nearly 54% of votes from public institutions did not favour adoption of the financial results, while 46% were in favour. Not all public institutions voted in the resolutions. At ACC, only 60.2% of public institutions cast their votes, while at Ambuja Cements, a little over 58% of the public institutions participated in the voting.

The stock quoted a 52-week high price of Rs 598.15 and a 52-week low of Rs 315.3.

Foreign fund outflows and elevated levels of crude oil prices also weighed on investor sentiment, traders said

The Relative Strength Index of the stock stood at 56.57 on Tuesday.