Ambuja rivals UltraTech in limestone reserves via buys
Business Standard|November 01, 2024
Even as Adani Group-controlled Ambuja Cements focused on acquisitions to rival India's largest cement maker, UltraTech Cement, it appears to have built equally competitive limestone reserves in the last couple of years, disclosures suggest.
AMRITA PILLAY
Ambuja rivals UltraTech in limestone reserves via buys

According to data shared by the two companies in their analyst presentations, as of June, Ambuja Cements had limestone reserves of eight billion tonnes, compared to UltraTech Cement's disclosed reserves of 10 billion tonnes.

While UltraTech has been conservative in limestone auction bids over the past year, nearly one billion tonnes of Ambuja Cements' current reserves were built through participation in various state auctions.

An email query sent to both companies remained unanswered.

Industry sources note that, with Adani Group stepping in as new promoters with deeper pockets, Ambuja Cements has strategically built its limestone reserves in the last two years, similar to UltraTech's.

Denne historien er fra November 01, 2024-utgaven av Business Standard.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra November 01, 2024-utgaven av Business Standard.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA BUSINESS STANDARDSe alt
Business Standard

India may become global leader in 5G FWA mkt by 2027

India is expected to become the world's largest 5G fixed wireless access (FWA) market by 2027 with over 30 million subscribers and overtake the US, the current global leader with 15 million subscribers, according to Counterpoint Research.

time-read
1 min  |
November 25, 2024
Crypto or not: Industry to focus on user protection, licensing regime
Business Standard

Crypto or not: Industry to focus on user protection, licensing regime

A consultation paper on the crypto sector is expected to suggest clarity on regulations after WazirX breach, says CoinSwitch co-founder

time-read
2 mins  |
November 25, 2024
Pant, Iyers knock it out of the park
Business Standard

Pant, Iyers knock it out of the park

IPL Mega Auction: Star wicket-keeper most expensive player at ₹27 cr; Shreyas, Venkatesh bag hefty pay cheques

time-read
2 mins  |
November 25, 2024
Eastern states are country's growth engine, says Modi
Business Standard

Eastern states are country's growth engine, says Modi

Prime Minister Narendra Modi asserted on Sunday that his government considers India's eastern region as the country's growth engine, while the area was considered backward earlier.

time-read
1 min  |
November 25, 2024
The other side of financialisation
Business Standard

The other side of financialisation

There's been a dramatic rise in loans against gold in the past one year, but growth in unsecured loans is slowing. Bank loans to the NBFC sector have also dipped

time-read
4 mins  |
November 25, 2024
Demand for super top-up health insurance plans rises after Covid
Business Standard

Demand for super top-up health insurance plans rises after Covid

Demand for super top-up plans in health insurance has increased significantly post the Covid-19 pandemic, owing to a rise in medical costs and increased insurance awareness in the country, industry insiders have said.

time-read
2 mins  |
November 25, 2024
Countdown to Feb 1 begins
Business Standard

Countdown to Feb 1 begins

FY26 Budget will come only six months after the last one, but has all the signs of becoming a hallmark document

time-read
4 mins  |
November 25, 2024
Greening AI for sustainable computing
Business Standard

Greening AI for sustainable computing

Technologies are providing solutions to many business and social problems. However, the solution itself is becoming a problem for climate action.

time-read
3 mins  |
November 25, 2024
Agentic AI: The next frontier
Business Standard

Agentic AI: The next frontier

A new iteration of AI is now taking the world by surprise. Agentic AI can take its own decisions. ARYAMAN GUPTA & SHIVANI SHINDE report

time-read
3 mins  |
November 25, 2024
Visit developer's past projects to evaluate service standards
Business Standard

Visit developer's past projects to evaluate service standards

Renting temporarily can be useful to assess suitability before committing to purchase

time-read
3 mins  |
November 25, 2024