AMBUJACEM

** Shares of Ambuja Cements ABUJ.NS up 1.1% at 438.25 rupees in afternoon trading

** Brokerage ICICI Securities downgrades Ambuja to "hold" from "add"

** Revises target price to 431 rupees from 540 rupees previously, representing a 0.5% downside to the stock's last close

** Says fourth quarter was disappointing for Ambuja Cements, with EBITDA slipping 22% owing to lower-than-expected organic volume growth and high operating cost

** "Expenses remained elevated due to high branding expenses, expensive packing material, incremental shutdown cost and additional goods tax in certain states," says ICICI

** Brokerage lowers its FY27-28 EBITDA estimates by 26% and 21%, respectively, factoring in demand headwinds and elevated competitive intensity amidst rising global fuel costs

** Twenty-six of 39 brokerages rate the stock "buy" or higher; their median PT is 525 rupees

** Stock has fallen 20.8%, YTD

(Reporting by Abhinav Parmar in Bengaluru)

((Abhinav.Parmar@thomsonreuters.com;))

** Shares of India's Ambuja Cements ABUJ.NS fall 2.40% to 434.60 rupees

** Cement maker reported a threefold jump in Q4 profit, led by tax gains, strong cement sales volumes

** Shares were trading when co reported results on Monday before closing 0.25% higher

** Analysts cite margin pressure from higher costs, weak pricing and delayed cost savings

** Ambit Capital cuts PT by 65 rupees to 325 rupees; cut its FY27 and FY28 EBITDA estimates by 40% and 10%, respectively

** HSBC cuts PT by 30 rupees to 560 rupees; lowers FY27–FY29 EBITDA estimates by 15%, 9% and 9%, respectively

** Jefferies cuts PT by 20 rupees to 595 rupees; trims FY27–FY28 EBITDA estimates by ~5–8%

** YTD, stock down 21.61% vs Nifty Infrastructure .NIFTYINFR index's ~1.66% decline

(Reporting by Bipasha Dey in Bengaluru)

((Bipasha.Dey@thomsonreuters.com;))

May 4 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• AMBUJA CEMENTS Q4 PAT 16.44 BILLION RUPEES

• AMBUJA CEMENTS Q4 REVENUE FROM OPERATIONS 69.72 BILLION RUPEES

• AMBUJA CEMENTS LTD - RECOMMENDS DIVIDEND OF 2 RUPEES PER SHARE FOR FY2025-26

Source text: ID:nnAZN4SU3B9

Further company coverage: ABUJ.NS

((Reuters.Briefs@thomsonreuters.com;;))

April 10 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• APPROVED ALLOTMENT OF SHARES TO ELIGIBLE SHAREHOLDERS OF SANGHI INDUSTRIES

Source text: ID:nBSE7VR8yY

Further company coverage: ABUJ.NS

((Reuters.Briefs@thomsonreuters.com;;))

April 1 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• AAHL, BLINKIT LAUNCH INDIA’S FIRST IN-TERMINAL QUICK COMMERCE SERVICE AT MUMBAI AIRPORT- STATEMENT

Source text: [ID:]

Further company coverage: ABUJ.NS

((Reuters.Briefs@thomsonreuters.com;))

Feb 9 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• AMBUJA CEMENTS LTD - NCLT SANCTIONS SCHEME BETWEEN SANGHI INDUSTRIES AND AMBUJA CEMENTS

Source text: ID:nBSE1JBB9k

Further company coverage: ABUJ.NS

((reuters.briefs@thomsonreuters.com;))

Feb 3 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• AJAY KAPUR SUPERANNUATED AS MANAGING DIRECTOR

Source text: ID:nBSE6trnDX

Further company coverage: ABUJ.NS

((Reuters.Briefs@thomsonreuters.com;;))

Jan 30 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• AMBUJA CEMENTS Q3 PAT 2.04 BILLION RUPEES

• AMBUJA CEMENTS Q3 REVENUE FROM OPERATIONS 59.09 BILLION RUPEES

• AMBUJA CEMENTS LTD- AJAY KAPUR WILL CEASE TO BE MANAGING DIRECTOR W.E.F. JANUARY 31, 2026

Source text: ID:nBSE3dc1B6

Further company coverage: ABUJ.NS

((Reuters.Briefs@thomsonreuters.com;))

Dec 22 (Reuters) - Orient Cement Ltd ORCE.NS:

• APPROVES AMALGAMATION WITH AMBUJA CEMENTS

• AMBUJA CEMENTS TO ISSUE 33 SHARES FOR EVERY 100 SHARES HELD IN CO

Source text: ID:nBSE1dm3Zl

Further company coverage: ORCE.NS

((Reuters.Briefs@thomsonreuters.com;;))

Nov 5 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• AMBUJA CEMENTS LTD - RECEIVES ORDER DISALLOWING CENVAT CREDIT

• AMBUJA CEMENTS LTD - NO MATERIAL IMPACT EXPECTED ON FINANCIAL OR OPERATIONAL ACTIVITIES

• AMBUJA CEMENTS LTD - RECEIVED ORDER DISALLOWING CENVAT CREDIT OF 4.5 MILLION RUPEES

Source text: ID:nBSE8KMZBP

Further company coverage: ABUJ.NS

((Reuters.Briefs@thomsonreuters.com;;))

** Shares of Adani Group-owned Ambuja Cements ABUJ.NS rise as much as 3.07% to 582.75 rupees, stock last up 1.6%

** Co reports quarterly PAT of 13.88 billion rupees vs 5 bln rupees last year, on recovery in cement prices and higher than expected volume growth

** Co's quarterly rev from ops rises 26.17% to 51.39 billion rupees

** More than 3.37 million shares change hands vs 30-day avg of 1.73 million shares

** Stock rated as "Buy" on average by 39 analysts; median PT at 660 rupees - data compiled by LSEG

**YTD, stock up 8.20%

(Reporting by Mridula Kumar)

((Mridula.kumar@thomsonreuters.com))

Sept 19 (Reuters) - Adani Group stocks gained between 1% and 9.6% on Friday, a day after India's markets regulator dismissed short-seller Hindenburg Research's allegations of stock manipulation against billionaire Gautam Adani and his group.

Adani Power ADAN.NS led gains among the nine entities with its 9.6% climb. Adani Enterprises ADEL.NS, the flagship firm, rose 4.4%.

(Reporting by Anuran Sadhu and Kashish Tandon in Bengaluru; Editing by Harikrishnan Nair)

((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))

Adds new quotes

Sept 4 (Reuters) - India late on Wednesday announced tax cuts on hundreds of consumer items ranging from soaps to small cars to spur domestic demand, and simplified its complicated goods and services tax structure to two rate slabs from four, with some exceptions for luxury and "sin" goods.

The benchmark BSE Sensex .BSESN and Nifty 50 .NSEI rose as much 1.1% on Thursday. By 11:55 IST, they pared some gains and were up about 0.5% each.

Here is how the industry has reacted:

ANISH SHAH, GROUP CEO & MD, MAHINDRA GROUP

"The next-generation GST reforms... mark a defining moment in India's journey towards building a simpler, fairer and more inclusive tax system.

"At Mahindra, we view these reforms as transformative. They simplify compliance, expand affordability, and energise consumption, while enabling industry to invest with greater confidence."

SAURABH AGARWAL, PARTNER & AUTOMOTIVE TAX LEADER, EY INDIA

"The rationalization of GST rates on automotive vehicles and parts is a truly welcome and significant development. By making vehicles more affordable across all segments, this move will not only boost consumer spending but also simplify complex classification disputes that have long burdened the industry."

SAMIR SHAH, EXECUTIVE DIRECTOR & CFO, HDFC ERGO GENERAL INSURANCE COMPANY

"The GST Council decision to exempt individual health insurance from GST is a welcome development. This move aligns perfectly with the broader ambition of the regulator of 'Insurance for All by 2047,' providing a tangible step forward in that direction.

NILESH SHAH, MANAGING DIRECTOR, KOTAK MAHINDRA ASSET MANAGEMENT CO

"The GST announcement lowers inflation, increases growth, boosts consumer sentiment, doesn't disturb the path of fiscal consolidation, improves ease of doing business and partially offers adverse effects of tariffs."

SHAILESH CHANDRA, PRESIDENT, SOCIETY OF INDIAN AUTOMOBILE MANUFACTURES

"This timely move is set to bring renewed cheer to consumers and inject fresh momentum into the Indian automotive sector... these announcements will significantly benefit first-time buyers and middle-income families, enabling broader access to personal mobility."

C S VIGNESHWAR, PRESIDENT, FEDERATION OF AUTOMOBILE DEALERS ASSOCIATIONS

"This is a decisive step that will boost affordability, spur demand, and make India's mobility ecosystem stronger and more inclusive.

"One area that may need earliest clarification is about levy and treatment of cess balances currently lying in dealers' books, so that there is no ambiguity during transition."

SANJEEV ASTHANA, CEO, PATANJALI FOODS LIMITED

"At Patanjali Foods, we are fully committed to passing on these benefits to our consumers. This initiative will not only enhance FMCG penetration across urban and rural India but also act as a catalyst for broader economic revival... categories such as ghee, soaps, biscuits, noodles, honey, and chyawanprash will benefit from this reduction."

RADHIKA RAO, SENIOR ECONOMIST AT DBS BANK

"Lower GST rates will be positive for growth in the second half of the year and FY27, besides improving operational efficiency and expanding the size of the formal economy."

SHRIPAL SHAH, MD & CEO, KOTAK SECURITIES

"The GST rate cuts ... should directly boost demand, help traders and businesses see higher volumes, and may even favourably impact next quarter's earnings... The key will be how quickly companies pass on the benefits to customers."

DEVARSH VAKIL, HEAD OF PRIME RESEARCH, HDFC SECURITIES

"The GST reforms represent a paradigm shift toward economic rationality... Combined with RBI rate cuts, FY26 income tax rebates and moderating inflation, these reforms create multiple stimuli for consumption and economic growth."

SUDARSHAN VENU, CHAIRMAN, TVS MOTOR COMPANY

"It's a welcome move as it will help two wheelers become more accessible and also help those looking to upgrade."

NEERAJ AKHOURY, PRESIDENT, CEMENT MANUFACTURERS' ASSOCIATION AND MANAGING DIRECTOR, SHREE CEMENT

"Bringing GST down to 18% corrects a long-standing anomaly, aligns cement with other core building materials and enhances global competitiveness."

NITIN RAO, CEO, INCRED WEALTH

" (I am ) positive this will play out, though a small concern remains where recent measures like the rate cuts and budgetary measures taken on reduced taxes have not created the necessary consumption boosters."

RAHUL SINGH, CIO-EQUITIES, TATA ASSET MANAGEMENT

"The GST rate rationalisation, following the income tax cuts and lower interest rates, is a serious effort to boost consumption and hence the overall economic growth outlook.

"While the direct beneficiaries include consumer, autos, cement, healthcare and insurance sectors, the second order beneficiaries in terms of growth will be retail banks & NBFCs."

RAJNEESH KUMAR, CHIEF CORPORATE AFFAIRS OFFICER, FLIPKART GROUP

"By lowering input costs for farmers, simplifying compliance for MSMEs and enabling small sellers, artisans/weavers and smallholder farmers to seamlessly join e-commerce across states, these reforms will further strengthen India's growth engine."

SHEETAL ARORA, CEO, MANKIND PHARMA

"By removing GST on lifesaving rare-disease and oncology therapies and reducing it on essential medicines and diagnostics, the government has signalled that affordability and innovation can go hand in hand."

AMIT PAITHANKAR, CEO OF WAAREE ENERGIES

"The reduction will lower project costs and accelerate the capacity addition needed to meet India’s clean energy targets."

ARNAB BANERJEE, MD & CEO, CEAT

"By addressing a long-standing demand of the industry, the Council has not only provided a boost to the automotive ecosystem but also created room for greater formalisation, compliance, and sustainable growth in the sector."

SHENU AGARWAL, MD & CEO, ASHOK LEYLAND

"The specific relief for the commercial vehicle industry is especially welcome. On one hand, it will spur freight traffic, and on the other, it will bring down the cost of buses and trucks."

AASIF MALBARI, CHIEF FINANCIAL OFFICER, GODREJ CONSUMER PRODUCTS LTD

"This is a positive trigger for demand and a strong driver of volume growth. This move will ultimately contribute to overall economic momentum. We are fully committed to ensuring that the GST rates reduction benefits are passed on to consumers."

VENKATRAM MAMILLAPALLE, MANAGING DIRECTOR, RENAULT INDIA

"We believe the reform will accelerate rural and urban demand alike, boost manufacturing and contribute strongly to India's economic momentum."

UNSOO KIM, MANAGING DIRECTOR, HYUNDAI MOTOR INDIA

"The GST overhaul will directly benefit the automotive sector. The announced reforms align seamlessly with the government's commitment to Viksit Bharat and the Make in India initiative, encouraging domestic manufacturing and boosting demand across both urban and rural markets."

(Reporting by Chandini Monnappa, Bharath Rajeswaran, Manvi Pant, Kashish Tandon, Meenakshi Maidas, Nandan Mandayam, Yagnoseni Das, Vivek Kumar M and Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala and Nivedita Bhattacharjee)

((Chandini.M@thomsonreuters.com; https://www.linkedin.com/in/chandini-monnappa-8a37b013b/;))

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Shritama Bose

MUMBAI, Aug 25 (Reuters Breakingviews) - A small paradox is gripping India's capital markets. The rise of institutional investors is pushing down overall shareholding levels of powerful private backers of companies, including tycoons. But other indicators point to this cohort's growing influence in the $4 trillion economy.

So-called promoter shareholdings in public firms fell to 40.58%, an eight-year low, per an analysis by PRIME Database of 2,086 companies listed on the main board of the National Stock Exchange. Over the past three years, promoters' share has fallen by 455 basis points, the research shows.

The quirky term is rooted in post-independence India's encouragement of entrepreneurs to promote local enterprise and describes owners that have large sway over the affairs of a company. These days, it assumes a mildly pejorative edge, making private banks and startups flaunt their lack of promoters as shorthand for good governance.

One reason for the rapid fall in their holdings from a peak of 45% in 2022 is an increase in listings of companies backed by financial sponsors like $32 billion food delivery firm Eternal ETEA.NS and its rival Swiggy SWIG.NS.

Older behemoths are warming up to external capital, too, though tycoons are hawking minority stakes in unlisted businesses. Mukesh Ambani's Reliance Industries RELI.NS sold shares in its retail and telecom units to investors from Meta META.O to KKR KKR.N in 2020 to cut debt, and Tata Motors TAMO.NS had TPG TPG.O jump in as a backer of its electric-vehicle unit in 2021.

Yet the reality on the ground suggests a tightening, not loosening, of their control. As global companies enter India, promoter-backed businesses are emerging as partners of choice. Fast fashion giant Shein has entered an alliance with Reliance Industries, and MG Motor has teamed up with Sajjan Jindal-backed JSW.

It's a result of New Delhi's protectionist policies and entrants' desire to scale up fast, but also a growing perception that it is not possible to win against the top domestic industrialists. M&A by large groups is reducing competition, too; Adani's Ambuja Cements ABUJ.NS and UltraTech ULTC.NS owner Kumar Mangalam Birla are rearranging the country's cement industry into a duopoly.

In fact, India Inc.'s shunning of leverage since the pandemic reduces the necessity of large owners to dilute their equity. Promoter entities own 50.07% of Reliance and up to 75% in each of the 10 listed Adani Group companies. The position of India's most powerful promoters is far from getting demoted.

Follow Shritama Bose on Linkedin and X.

CONTEXT NEWS

Stakes held by powerful private shareholders, known as promoters, in large Indian companies have fallen to an eight-year low in India.

Such shareholdings on the main board of the National Stock Exchange fell to 40.58% in June, per an analysis of 2,086 companies by PRIME Database.

Over the past three years, promoters' share has fallen by 455 basis points from 45.13% on March 31, 2022, the research shows.

(Editing by Una Galani; Production by Ujjaini Dutta)

((For previous columns by the author, Reuters customers can click on BOSE/shritama.bose@thomsonreuters.com))

** Shares of Ambuja Cements ABUJ.NS rise as much as 2.20% to 609.8 rupees, the highest since October 10, 2024

** National Company Law Tribunal (NCLT) Ahmedabad approves the merger of Adani Cementation with ABUJ

** Move to help consolidate Adani group's cement business under ABUJ

** Stock exchange BSE also gives its "no adverse objection" to the merger over the weekend; NSE had already issued "no objection" letter on July 17

** ABUJ shares are up 11.4% in 2025 so far, outperforming the 0.6% rise in the Nifty Next 50 index .NN50

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

** Shares of Ambuja Cements ABUJ.NS rise as much as 3% to 597.60 rupees, settles up 2.4%

** Multiple brokerages, including Morgan Stanley, Jefferies and JP Morgan, reiterate positive view on the cement maker's stock after meeting the management

** Morgan Stanley reiterates "overweight" rating and terms ABUJ as one of its preferred cement stocks, citing capability to gain market share and drive cost improvement

** Says ABUJ is well placed to become an earnings compounder over the next few years

** Jefferies reiterates "buy", while JP Morgan retains "neutral", both anticipating an improvement in earnings from the second quarter of fiscal 2026

** The average rating of 36 analysts tracking ABUJ is "buy"; the median price target is 627.50 rupees - LSEG

** ABUJ shares are up 10.9% in 2025 so far, outperforming the 1.1% rise in Nifty Next 50 index .NN50, exchange data shows

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

June 24 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• COMMISSIONS 2.4 MTPA BROWNFIELD EXPANSION IN WEST BENGAL

• CEMENT CAPACITY INCREASES TO 102.95 MTPA

Source text: ID:nBSE7NjK8m

Further company coverage: ABUJ.NS

((Reuters.Briefs@thomsonreuters.com;;))

Changes date; Adds Adani Green's response in paragraph 6, updates stock moves in paragraph 9

May 5 (Reuters) - Representatives for Indian billionaire Gautam Adani met officials from U.S. President Donald Trump's administration to seek dismissal of criminal charges in an overseas bribery probe, with a resolution possible in a month, Bloomberg News reported.

In November, U.S. authorities indicted Adani and his nephew, Sagar Adani, alleging they paid bribes to secure power supply contracts, and misled U.S. investors during fund raises there.

The U.S. financial regulator summoned the duo, alleging they misled investors on compliance during a $750 million Adani Green ADNA.NS bond sale in the United States.

The billionaire's aides are trying to make the case that his prosecution does not align with Trump's priorities and should be reconsidered, Bloomberg News reported on Sunday, citing sources familiar with the matter.

The discussions began earlier this year and have picked up in recent weeks, with a resolution possible within a month if the momentum continues, the report said.

Adani Green, in a statement on Monday, reiterated it was not part of any proceedings, but it did not directly comment on the report about the meetings. It had recently said its review of the indictment found no non-compliance or irregularities.

The Justice Department and White House declined comment to Bloomberg on the report and did not respond to Reuters for comment outside business hours.

Adani Enterprises, the group's flagship firm, also did not respond to a request for comment. The group has previously denied any wrongdoing.

Shares of Adani Group's nine Indian listed companies rose between 1.7% and 10.5% on Monday, amid a 0.6% increase in the broader market.

The indictment has erased about $13 billion in market value from Adani Group's nine listed firms.

(Reporting by Bipasha Dey, Nandan Mandayam and Kashish Tandon in Bengaluru; Editing by Nivedita Bhattacharjee and Mrigank Dhaniwala)

((Bipasha.Dey@thomsonreuters.com;))

April 15 (Reuters) - Kaushalya Logistics Ltd KAUH.NS:

• KAUSHALYA LOGISTICS LTD - COMMENCES OPERATIONS AT KATIHAR DEPOT FOR AMBUJA CEMENTS

Source text: ID:nNSE21xfKq

Further company coverage: KAUH.NS

((reuters.briefs@thomsonreuters.com;))

March 28 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• AMBUJA CEMENTS LTD - REAPPOINTS AJAY KAPUR AS MANAGING DIRECTOR FOR TWO YEARS

• AMBUJA CEMENTS LTD - APPOINTS VINOD BAHETY AS CEO AND WHOLETIME DIRECTOR FOR THREE YEARS

• AMBUJA CEMENTS LTD - APPOINTS RAKESH TIWARY AS CHIEF FINANCIAL OFFICER

• AMBUJA CEMENTS LTD - VINOD BAHETY TO CEASE AS CFO EFFECTIVE 31ST MARCH 2025

Source text: ID:nBSE68y4tB

Further company coverage: ABUJ.NS

((Reuters.Briefs@thomsonreuters.com;;))

** The rough patch for India's cement sector due to demand slowdown in fiscal year 2025 and rising competition after Adani's entry is coming to an end, says UBS

** Upgrades UltraTech Cement ULTC.NS to "buy" from "neutral" and hikes price target to 13,000 rupees from 9,000 rupees

** UBS also upgrades Ambuja Cements ABUJ.NS and Dalmia Bharat DALB.NS to "buy" from "sell", while reiterating "buy" on ACC ACC.NS

** Forecasts demand to bounce back in fiscal year 2026 due to pick-up in government capex after an election-led slowdown in FY2025, housing upcycle, improving rural outlook and policy support

** Estimates core profit CAGR of 18%-43% over FY2025-27 for the four cement companies

** Expects market leaders ULTC and Adani group-owned ACC and ABUJ to have an upper hand as sectoral consolidation continues

** ULTC, ACC, Ambuja Cements shares are down 3.28%, 5.8% and 3.1%, respectively in 2025 so far; benchmark Nifty 50 .NSEI is little changed over the same period

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

In March 4 story, corrects paragraph 1 to clarify Ambuja Cements is buying Orient Cement, not India Cements

March 4 (Reuters) - India's antitrust watchdog, approved Ambuja Cements' ABUJ.NS acquisition of Orient Cement ORCE.NS on Tuesday, months after the Adani Group company first announced the deal.

Ambuja Cements, India's second-largest cement maker, in October revealed plans to buy stake worth $451 million in Orient Cement, intensifying competition with industry leader UltraTech Cement ULTC.NS.

Competition in the Indian cement sector has heated up recently, with UltraTech and the Adani Group companies striking a slew of deals to acquire smaller firms and expand their market share.

Analysts had doubted Ambuja's deal would win regulatory approval, considering recent acquisitions that have led to industry oversupply. Ambuja's shares fell 2.3% on October 22 when the deal was first announced.

Since October 22, Ambuja Cements' shares have dropped about 15%, while Orient Cements' shares have fallen nearly 5%.

In recent years, Ambuja has acquired smaller rivals Sanghi Industries SNGI.NS and Penna Cement PENC.NS.

(Reporting by Manvi Pant in Bengaluru; Editing by Tasim Zahid)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Shares of Ambuja Cements ABUJ.NS climb 1.9% to 484 rupees, while Orient Cement ORCE.NS rises 2.3% to 334.95 rupees

** India's antitrust watchdog on Tuesday approved Ambuja's acquisition of Orient, months after the Adani Group company first announced the deal

** ORCE set for busiest trading session in over four months, with volumes at 6.8x the 30-day avg; ABUJ's vols relatively muted at about 0.3x its 30-day avg

** ABUJ on track to for biggest one-day gain in a month, ORCE for best day in more than 3 months

** ABUJ stock rated "buy' on avg, ORCE rated "sell" - data compiled by LSEG

** Ambuja and Orient are down about 11% and 4.5% YTD, respectively

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

March 4 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• INDIA COMPETITION REGULATOR: APPROVES PROPOSED ACQUISITION OF UP TO 72.8% STAKE OF ORIENT CEMENT BY AMBUJA CEMENTS

Source text: [ID:]

Further company coverage: ABUJ.NS

((Reuters.Briefs@thomsonreuters.com;;))

March 3 (Reuters) - Kaushalya Logistics Ltd KAUH.NS:

• COMMENCES OPERATIONS AT DARBHANGA DEPOT FOR ACC AND AMBUJA CEMENT

Source text: ID:nNSE9CFgmG

Further company coverage: KAUH.NS

((Reuters.Briefs@thomsonreuters.com;;))

Adds production start date for eDCTs in paragraph 8, union comment in paragraphs 10-11

MILAN, Feb 17 (Reuters) - Stellantis STLAM.MI said on Monday it would make dual-clutch transmissions for hybrid vehicles at its Termoli plant in Southern Italy, which its joint venture ACC has earmarked for the creation of an electric vehicle battery-making hub.

The Termoli plant, which currently makes engines, is one of three sites in Europe where Stellantis-led ACC has announced plans to create EV battery-making gigafactories.

While a gigafactory in France has already started operations, plans for two similar facilities in Italy and Germany were officially paused last year, as ACC was switching to lower cost batteries amid slowing demand for EVs.

A spokesperson for ACC - which also has Mercedes MBGn.DE and TotalEnergies TTEF.PA as shareholders - said on Monday the JV was still assessing its investment plans for Italy and Germany with an aim to take a decision within this year, but not before June.

Stellantis' announcement on Termoli does not change the ongoing situation, the spokesperson added.

Earlier this month the CEO of TotalEnergies, which owns a 25% stake in ACC, said the JV should focus its efforts just on the French plant, signaling the plans for the Italian and German gigafactories could be eventually scrapped.

Stellantis said in a statement on Monday it will produce electrified dual clutch transmissions (eDCT), a key component for hybrid vehicles, in Termoli starting from 2026, to help expand its hybrid product line.

It made no reference to ACC's plans for the plant.

"With a target of three hundred thousand units per year, Termoli becomes Stellantis' third production hub for this sophisticated transmission," the company said.

The automaker already makes eDCTs in Mirafiori, Italy, and Metz, France.

Italy's major metalworker unions welcomed the announcement on Monday, saying eDCT production would provide employment for around 300 of the total 1,800 staff at the Termoli plant.

Gianluca Ficco of UILM union said long-term decisions were now needed for the future of the plant, including on the gigafactory plan.

Stellantis also said on Monday it would increase production levels for key components needed to support increased eDCT output at its plants in Sint Truiden, Belgium, and in Metz.

It added it would also install a new assembly line for the components in Metz.

Stellantis, the world's fourth largest carmaker, currently has a separate plan with Chinese battery maker CATL 300750.SZ to build a 4.1 billion euro ($4.3 billion) gigafactory in Spain.

($1 = 0.9537 euros)

(Reporting by Giulio Piovaccari; Editing by Cristina Carlevaro, Valentina Za and Jan Harvey)

((giulio.piovaccari@thomsonreuters.com))

Feb 12 (Reuters) - Jupiter Wagons Ltd JUWL.NS:

• BAGS 6 BILLION RUPEES ORDER FROM AMBUJA CEMENT AND ACC

Source text: ID:nBSEgv341

Further company coverage: JUWL.NS

((Reuters.Briefs@thomsonreuters.com;;))

By Hritam Mukherjee

Feb 1 (Reuters) - Indian cement companies' shares fell in a special trading session on Saturday after the government announced a 'modest' spending hike for infrastructure projects in the annual budget , which failed to impress investors.

UltraTech Cement's ULTC.NS shares dropped 2.7%, while those of rival Adani Group's cement firms Ambuja ABUJ.NS and ACC ACC.NS slumped 4.5% and 2.3% respectively.

Other big cement firms - Shree SHCM.NS and Dalmia Bharat DALB.NS - declined 3% and 2% respectively.

The Indian government said it will spend a record 11.21 trillion rupees ($129.54 billion) on infrastructure in the upcoming financial year that begins on April 1, but the increase in planned spending disappointed markets.

"The capex outlay for fiscal year 2026.. looks modest compared to raises made in FY25 and FY24 budget, and misses market expectations slightly," said Amit Anwani, research analyst at Prabhudas Lilladher.

Cement, a key construction material, is a direct beneficiary of government's capital spending. India's infrastructure index .NIFTYINFR reversed gains following the budget announcement, and was last down 1.5%.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Varun H K)

((Hritam.Mukherjee@thomsonreuters.com; X: @MukherjeeHritam;))

Jan 29 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• CAPACITY TO HIT 104 MTPA BY Q4 FY’25, 118 MTPA BY FY’26 AND 140 MTPA BY FY’28

• ORIENT CEMENT ACQUISITION EXPECTED TO BE CLOSED IN Q4 FY’25

• MERGER OF PENNA AND SANGHI UNDER PROGRESS

• COST REDUCTION WILL HELP TO ACHIEVE COST OF 3,650 RUPEES PER METRIC TONE BY FY 2028

Further company coverage: ABUJ.NS

((Reuters.Briefs@thomsonreuters.com;))