New Delhi: Ambuja Cements Ltd, a part of Adani Cement on Thursday said it has been declared as the 'preferred bidder' for the Uskalvagu limestone block in Odisha. An e-auction was conducted by the Odisha government for the block, situated in Malkangiri district, Ambuja Cements said in regulatory filings.
Adani's FirmThe Adani Group firm has not disclosed the bid amount for the block but said it is spread over an area of 547 hectare with estimated limestone resource of about 141 million tonne.
Earlier, shares of the company saw a gap up opening in the morning.
Ambuja SharesA total of 340,692 lakh shares changed hands on the counter till 10:36AM (IST).
The stock of Ambuja Cements Ltd. commands a market value of Rs 69030.96 crore.
The stock traded at a price-to-earning (P/E) multiple of 35.61, while the price-to-book value ratio stood at 2.96. Return on equity (ROE) was at 10.96 per cent, according to exchange data.
In the BSE500 pack, 348 stocks traded in the green, while 153 stocks were in the red.
Adani StocksAdani stocks is deepening with each passing day. On Wednesday morning, at least four Adani stocks - Adani Transmission, Adani Green Energy, Adani Total Gas and Adani Power - were locked in their 5% lower circuit limits.
The ports-to-edible oil conglomerate's flagship Adani Enterprises stock was up over 2% after reporting consolidated net profit of Rs 820 crore for the quarter ended December, against a net loss of Rs 11.63 crore a year ago
Competition There are various cement company which will get a chance to create their hype
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Reviewed by Kno Best
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February 16, 2023
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