Gautam Adani is making a big change in his business. There are major changes, especially in the cement business.

Big change in Adani's cement business, merger of two companies, what is Gautam Adani's plan

Adani Cement Business: Gautam Adani is making a big change in his business. There are major changes, especially in the cement business. Under this, two big companies have merged in Adani Group-owned cement company Abunja Cement. Sanghi Industries and Penna Cement have merged with Gautam Adani's cement company Ambuja Cement. After the merger, shares of Sanghi Cement were trading at Rs 77.

Ambuja Cement Sanghi Industries

Adani Group on Tuesday said it will merge recently acquired Sanghi Industries and Penna Cement with Ambuja Cement. The group is taking this step to consolidate the cement business into a single entity. New Delhi: Ambuja Cement on Tuesday announced separate plans for the merger of its subsidiary Saurashtra-based Sanghi Industries (SIL) and Andhra Pradesh-based Penna Cement Industries Ltd (PCIL).

Why did you decide to merge?

This will also help billionaire Gautam Adani's cement unit to leverage the combined strength of the acquired units. The group is competing with Aditya Birla Group firm UltraTech Cement, the market leader in the sector. The board of Ambuja Cements approved the plan of merger with Sanghi Industries and Penna Cement Industries in a meeting held on Tuesday.