Summary
Adani Share Price: Again a big news has come on Adani Group. This may also affect the company’s shares.
Adani Share Price: Adani Group-led Ambuja Cements on Friday incorporated three new wholly owned subsidiary companies. Of these, two will deal in cement business, while one will be for aircraft lease.
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LOTIS IFSC Private Limited is a wholly owned subsidiary of the company which will be involved in ownership and leasing of aircraft. The subsidiary company has been incorporated with an authorized capital of Rs 1.7 crore. The unit is incorporated in GIFT City, Gandhinagar.
The names of the remaining two subsidiary companies are Ambuja Concrete North Private Limited and Ambuja Concrete West Private Limited.
Ambuja Concrete will do the business of manufacturing and dealing in North Cement, RMX and other products and by-products. It has also been included in the state of Gujarat. Ambuja Concrete West will also join the business like Ambuja Concrete North.
In its recent annual report, Ambuja Cements had mentioned that it plans to double its cement capacity with an emphasis on green cement. Last month, it acquired 56.74 per cent stake in Saurashtra-based Sanghi Industries at a value of Rs 5,000 crore.