Ambuja Cements shares in focus on report Adani firm may buy majority stake in Sanghi Industries
Shares of Ambuja Cements Ltd will be in focus on Wednesday amid a report suggesting the Adani group company reached a deal to acquire a majority stake in operations of Sanghi Industries. A Reuters report quoting two sources with direct knowledge said the transaction would add heft to cement operations of billionaire Gautam Adani's firm.
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. Ambuja Cements will also be announcing its June quarter results today.
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