Latest news with #AmbujaCements
Hans India
13 hours ago
- Business
- Hans India
Ambuja, ACC get pats with Net-Zero targets
Ambuja Cements and ACC, the cement and building materials companies of the diversified Adani Portfolio, have achieved a landmark sustainability milestone as the leading two Indian cement companies amongst peers to have their net-zero targets validated by the Science Based Targets initiative (SBTi), it was announced on Thursday. The SBTi's 'Corporate Net-Zero Standard' is the world's only framework for corporate net-zero target setting in line with climate science.'We take immense pride in Ambuja Cements' and ACC's long-standing tradition of pioneering sustainability initiatives as we feel a strong responsibility to act in the climate crisis,' said Vinod Bahety, CEO-Cement Business, Adani group. The SBTi validation proves the companies' commitment to building a sustainable and responsible business, by doing not what is easy but what is necessary and positioning them as corporate leaders of the low-carbon transition. This recognition places them at the forefront of India's industrial decarbonisation, committed to cutting emissions at the pace and scale required to meet the Paris Agreement's 1.5 degrees Celsius goal. Ambuja is also the first cement manufacturer globally to join the Alliance for Industry Decarbonization (AFID), led by the International Renewable Energy Agency (IRENA) and is a member of WEF's Transitioning Industrial Clusters initiative. Synergies across the Adani Group ecosystem are central to this ambition. With a $100 billion commitment to India's green energy transition, the Group is scaling renewable capacity from 14.2 GW to 50 GW by 2030 and building an integrated green hydrogen platform.
India Gazette
a day ago
- Business
- India Gazette
Ambuja Cements and ACC become India's leading cement companies with net-zero targets validated by the SBTi
Ahmedabad (Gujarat) [India], June 19 (ANI): Ambuja Cements and ACC, the cement and building materials companies of the diversified Adani Portfolio, have achieved a landmark sustainability milestone as the leading two Indian cement companies amongst peers to have their net-zero targets validated by the Science Based Targets initiative (SBTi). The SBTi's Corporate Net-Zero Standard is the world's only framework for corporate net-zero target setting in line with climate science. According to Adani, the SBTi validation proves the Companies' commitment to building a sustainable and responsible business, by doing not what is easy but what is necessary and positioning them as corporate leaders of the low-carbon transition. This recognition places them at the forefront of India's industrial decarbonisation, committed to cutting emissions at the pace and scale required to meet the Paris Agreement's 1.5C goal. Vinod Bahety, CEO - Cement Business, Adani Group, said, 'We take immense pride in Ambuja Cements' and ACC's long-standing tradition of pioneering sustainability initiatives as we feel a strong responsibility to act in the climate crisis. The SBTi represents the highest standard for corporate climate targets.' He added, 'With the validation of our targets by the SBTi, we reinforce our dedication to creating a future where growth and environmental stewardship go hand in hand. We are the 9th largest cement manufacturer in the world and after Cemex, Heidelberg and Holcim, only one of this scale to achieve net-zero target validation. Our journey doesn't stop here - this is yet another step towards realising our vision for a decarbonised and sustainable world.' The Companies understand the importance of rapid and deep emission cuts and have been pioneering sustainability practices as leaders in the industry's transformation towards sustainable growth. The Companies will prioritise direct decarbonisation and neutralise residual emissions in line with SBTi criteria. The Companies' initiatives on green power, AFR, energy efficiency, technology upgradation, innovation have had helped to set up the targets. Ambuja is also the first cement manufacturer globally to join the Alliance for Industry Decarbonization (AFID), led by the International Renewable Energy Agency (IRENA) and is a member of WEF's Transitioning Industrial Clusters initiative. Synergies across the Adani Group ecosystem are central to this ambition. With a USD 100 billion commitment to India's green energy transition, the Group is scaling renewable capacity from 14.2 GW to 50 GW by 2030 and building an integrated green hydrogen platform. Under this, Ambuja Cements aims to achieve 60 per cent of its power requirements through renewable and green sources by FY'28, including 1 GW of solar and wind power, as well as 376 MW of WHRS. Of these, it has already achieved 299 MW and 186 MW capacities, respectively. Green hydrogen will play a key role in achieving net-zero. The Group's investments in this space will lead the Companies' net-zero pathways. The shared capabilities with the Group will enable Ambuja Cements and ACC to accelerate emissions reduction and reduce reliance on fossil fuels. This validation is not just a milestone; it is a mandate. Ambuja Cements and ACC are setting new benchmarks for the cement industry, proving that bold climate action is possible, necessary, and already underway. (ANI)
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Business Standard
2 days ago
- Business
- Business Standard
Orient Cement tanks 18%, sharpest intra-day fall since March 20; here's why
Share price of Orient Cement today Shares of Orient Cement tanked 18 per cent to ₹250 on the BSE in Wednesday's intra-day trade amid heavy volumes. The stock price of this smallcap cement & cement products company recorded its sharpest intra-day fall in over five years. Earlier, on March 23, 2020, the stock price of Orient Cement had plunged 20 per cent. Since June 9, in the past eight trading days, the market price of Orient Cement has slipped 29 per cent after closure of open offer made by Ambuja Cements. At 11:46 AM; Orient Cement was quoting 17.6 per cent lower at ₹250.95, as compared to 0.25 per cent decline in the BSE Sensex. The average trading volumes at the counter jumped multiple-fold. A combined 6.03 million shares representing 3 per cent of total equity of Orient Cement changed hands on the NSE and BSE. Open offer by Ambuja Cements Ambuja Cements announced the acquisition of Orient Cement for an equity value of ₹8,100 crore, a strategic step aimed at surpassing 100 MTPA in operational capacity. This acquisition includes a 46.6 per cent stake in Orient Cement, acquired from its current promoters and certain public shareholders, all funded through internal accruals. Ambuja Cements completed the acquisition of 95.87 million equity shares constituting 46.66 per cent of the existing share capital of Orient Cement on April 22, 2025. Ambuja Cements, thereafter, made an open offer to acquire 53.4 million equity shares constituting 26 per cent of expanded share capital at a price of ₹395.40 per equity share from the public shareholders of the Orient Cement under the provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The open offer by Ambuja Cements to acquire shares of Orient Cement concluded on June 9, 2025. As per letter of offer, the tendering period for the offer ran from May 27, 2025, to June 9, 2025. About Orient Cement Orient Cement, founded in 1979, as a Division of Orient Paper and Industries, was demerged and its equity shares were listed on stock exchanges in 2012, and since then it has emerged as one of the most respected cement manufacturers in India. The company is primarily engaged in cement manufacturing and selling, and it has a presence in various states such as Maharashtra, Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Gujarat, and some parts of Madhya Pradesh & Chhattisgarh.
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Business Standard
2 days ago
- Business
- Business Standard
This Adani-group stock flags BIG bullish signal; can it double from here?
The average gain for Ambuja Cements, an Adani group stock, after witnessing 'Golden Cross' formation has been 86% in the last three instances; can history be repeated? Here's what the charts say. Rex Cano Mumbai Listen to This Article Ambuja Cements, an Adani-group stock, witnessed formation of 'Golden Cross' also commonly known as 'Golden Crossover' on the daily chart this week. Technically, a 'Golden Cross' formation or a 'Golden Crossover' means that the underlying stock's 50-Day Moving Average (50-DMA) has now crossed over the long-term 200-DMA from below. The 50-DMA of Ambuja Cements now stands at ₹546.40, while the 200-DMA at ₹544.90. CLICK HERE FOR THE CHART In general, Golden Crossover is considered as a positive sign for the underlying stock, as the short-term (50-Day) moving average now trades above the long-term moving average (200-DMA)
Hans India
12-06-2025
- Business
- Hans India
Adani plays major role in Chenab bridge works
Ahmedabad: Adani Cement on Wednesday said it has played a pivotal role in the construction of the world's highest railway arch bridge at Chenab in Jammu and Kashmir -- a landmark of India's infrastructure ambition. Adani Cement, comprising Ambuja Cements and ACC and a key part of the diversified Adani Portfolio, was the lead cement supplier in the project with 65,000 metric tonnes — making it a key contributor to the structural backbone of the bridge. The cement supplied was Ordinary Portland Cement (OPC) 43 Grade, known for its high strength, durability, and consistent quality, making it ideal for complex and large-scale infrastructure exposed to extreme climatic and geological conditions, informed the company. 'It is a matter of immense pride for us to be part of a project that not only redefines engineering boundaries but also contributes to national integration. At Adani Cement, we believe that every bag of cement carries the weight of the nation's progress,' said Vinod Bahety, CEO–Cement Business, Adani Group. Spanning the formidable terrain of Jammu and Kashmir, the Chenab Bridge is a triumph of design, execution, and resilience.
