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<ul><li><keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani Group</keyword> will acquire <keyword id="21434388" type="General" weightage="20" keywordseo="Orient-Cement" source="keywords" meta.keywordsubtype="org" meta.entityname="Orient Cement" meta.hostid="261" meta.entityid="Orient Cement">Orient Cement</keyword> at a valuation of ₹8,100 crore.</li><li><keyword id="20057393" type="General" weightage="20" keywordseo="Ambuja-Cements" source="keywords" meta.keywordsubtype="org" meta.entityname="Ambuja Cements" meta.hostid="261" meta.entityid="Ambuja Cements">Ambuja Cements</keyword> has signed a binding agreement for the acquisition of the company.</li><li>The latest acquisition will add 16.6 MTPA capacity to Adani Cement.</li></ul>Gautam Adani-led Adani Group on Tuesday said it will acquire <keyword id="21501327" type="General" weightage="20" keywordseo="CK-Birla-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="CK Birla Group" meta.hostid="261" meta.entityid="CK Birla Group">CK Birla group</keyword> firm Orient Cement at a valuation of ₹8,100 crore as part of its expansion drive. Ambuja Cements, the cement and building material company of Adani Cement and part of the diversified Adani Group, has signed a binding agreement for the acquisition of Orient Cement Ltd (OCL) at an equity value of ₹8,100 crore. As per that, its step-down unit "Ambuja will acquire 46.8 per cent shares of OCL from its current promoters and certain public shareholders", according to a joint statement. The acquisition will be fully funded through internal accruals, it added. The latest acquisition will add 16.6 MTPA (million tonnes per annum) capacity to Adani Cement, which operates through Ambuja Cements in the sector. In June this year, Adani announced the acquisition of Hyderabad-based Penna Cement at an enterprise value of ₹10,422 crore, which added 14 MTPA capacity to the country's second-largest manufacturer. "This timed acquisition marks another significant step forward in Ambuja Cements' accelerated growth journey, increasing <keyword id="21171283" type="General" weightage="20" keywordseo="cement-capacity" source="keywords">cement capacity</keyword> by ~30 MTPA within two years of Ambuja's acquisition," said Karan Adani, Director of Ambuja Cements. By acquiring OCL, Ambuja is poised to reach 100 MTPA cement capacity in FY25, he said, adding, "The acquisition will help to expand Adani Cement's presence in core markets and improve its pan-India market share by 2 per cent." OCL has 5.6 MTPA clinker capacity and 8.5 MTPA cement capacity along with the statutory clearance to increase the clinker capacity by another 6.0 MTPA and cement capacity by another 8.1 MTPA. With inputs from PTI. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms">UPI refund to digital arrest scam, here are some online scams you need to be aware of</a> <a href="https://www.businessinsider.in/stock-market/news/waaree-energies-to-afcons-infrastructure-ipos-to-look-out-for-this-week/articleshow/114421377.cms">Waaree Energies to Afcons Infrastructure, IPOs to look out for this week</a> <a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms">Best credit cards for online shopping this festive season</a>

Adani Group to acquire CK Birla group firm Orient Cement at ₹8,100 crore valuation

As many as seven <keyword id="19955648" type="General" weightage="20" keywordseo="Adani-group" source="keywords">Adani group</keyword> stocks ended lower on Friday as the Swiss authorities froze USD 311 million (Rs 2,610 crore) held by a Taiwanese resident in multiple Swiss bank accounts as part of a money laundering probe, suspecting he may be a frontman from the group -- a charge the conglomerate vehemently denied. Shares of <keyword id="19934911" type="General" weightage="20" keywordseo="Adani-Power" source="keywords">Adani Power</keyword> dropped 2.73 per cent, Adani Energy Solutions declined 2.42 per cent, Adani Ports slipped 1.37 per cent, Adani Green Energy went lower by 1.17 per cent, Adani Enterprises dipped 0.76 per cent, Adani Total Gas (0.55 per cent) and Adani Wilmar (0.37 per cent) on the BSE. However, three group firms managed to settle in the green. The stock of <keyword id="19963163" type="General" weightage="20" keywordseo="ACC" source="keywords" meta.keywordsubtype="org" meta.entityname="ACC" meta.hostid="261" meta.entityid="ACC">ACC</keyword> jumped 1.94 per cent, NDTV climbed 1.01 per cent and <keyword id="20057393" type="General" weightage="20" keywordseo="Ambuja-Cements" source="keywords" meta.keywordsubtype="org" meta.entityname="Ambuja Cements" meta.hostid="261" meta.entityid="Ambuja Cements">Ambuja Cements</keyword> (0.01 per cent). During the day, shares of Adani Power tumbled 3.20 per cent, Adani Energy dived 2.75 per cent, Adani Green declined 1.53 per cent, Adani Ports went down by 1.51 per cent, Adani Enterprises fell 1.18 per cent, Adani Wilmar (1.07 per cent), Adani Total (0.89 per cent), NDTV (0.57 per cent), Ambuja Cements (0.54 per cent) and ACC (0.46 per cent). Swiss authorities have frozen USD 311 million (Rs 2,610 crore) held by a Taiwanese resident in multiple Swiss bank accounts as part of money laundering probe, suspecting he may be a frontman from the Adani group -- a charge the conglomerate vehemently denied saying it was neither involved in any Swiss court proceedings nor any of its accounts are subject to sequestration. US-based short-seller <keyword id="20016892" type="General" weightage="20" keywordseo="Hindenburg-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="Hindenburg Research" meta.hostid="261" meta.entityid="Hindenburg Research">Hindenburg Research</keyword>, which had last year targeted the Adani group in a damning report that led to wiping away of USD 150 billion in market value of listed firms of the conglomerate in the following weeks, in a post on X cited "newly released Swiss criminal records reported by Swiss media outlet" to state that "Swiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of a money laundering and securities forgery investigation into Adani, dating back as early as 2021." "Prosecutors detailed how an Adani frontman invested in opaque BVI/Mauritius &amp; Bermuda funds that almost exclusively owned <keyword id="20372802" type="General" weightage="20" keywordseo="Adani-stocks" source="keywords">Adani stocks</keyword>," it said citing the report. Adani group rejected the allegations as baseless, saying it had no involvement in any Swiss court proceedings. "We unequivocally reject and deny the baseless allegations presented. The Adani Group has no involvement in any Swiss court proceedings, nor have any of our company accounts been subject to sequestration by any authority," it said. The Swiss media outlet Gotham City in its report stated that a ruling by the Federal Criminal Court (FCC) reveals that the Geneva Public Prosecutor's Office was investigating alleged wrongdoing and more than USD 310 million belonging to an alleged frontman for billionaire <keyword id="19929098" type="General" weightage="20" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> have been sequestered in five Swiss banks over the last three years. The Swiss investigators suspect that the associate, Chang Chung-Ling, is not the ultimate beneficial owner (UBO) of the company under investigation, but a mere front. The Adani Group, however, said that the court order was not linked to them and they have not been mentioned in it. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/western-carriers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113312196.cms">Western Carriers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/pn-gadgil-jewellers-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113302533.cms">PN Gadgil Jewellers IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a>

Majority of Adani group stocks settle lower; Adani Power drops nearly 3%

Ultratech & India cements: Other high-profile M&As involving Indian companies

<ul><li>BSE, NSE are to introduce the beta version of the T+0 or same-day trade settlement from Thursday. </li><li>Its available an optional basis for select stocks and with a limited number of brokers.</li></ul> New Delhi, Stock exchanges BSE and NSE are all set to introduce the beta version of the T+0 or same-day trade settlement, on an optional basis, for select stocks from Thursday. This will be in addition to the existing T+1 settlement cycle in the equity cash market. To begin with, the option of T+0 trade settlement will be available for a limited set of 25 scrips and with a limited number of brokers. T+0 means settlements on the same day and the move will bring cost and time efficiency, transparency in charges to investors and strengthen risk management at clearing corporations and the overall securities market ecosystem. "The transition towards T+0 not only enhances the efficiency and flexibility of market operations but also stands to substantially mitigate transactional risks, offering an immediate and tangible value to both traders and investors alike. "Launching on March 28, 2024, for a limited trading window, this initiative marks a critical step in aligning <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s trading infrastructure with global standards, paving the way for a stronger, risk-averse, and dynamic market ecosystem," Vamsi Krishna, CEO of <keyword id="20362870" type="General" weightage="20" keywordseo="stoxbox" source="keywords">StoxBox</keyword>, said. In a circular on Thursday, BSE came out with the list of 25 scrips wherein the option of T+0 settlement cycle would be available. The scrips included <keyword id="19897354" type="General" weightage="20" keywordseo="bajaj-auto" source="keywords">Bajaj Auto</keyword>, Vedanta, Hindalco Industries, <keyword id="19934368" type="General" weightage="20" keywordseo="state-bank-of-india" source="keywords">State Bank of India</keyword> (SBI), Trent, <keyword id="19916885" type="General" weightage="20" keywordseo="tata-communications" source="keywords">Tata Communications</keyword>, Nestle India, Cipla, MRF, JSW Steel, BPCL, ONGC, NMDC and <keyword id="20057393" type="General" weightage="20" keywordseo="ambuja-cements" source="keywords">Ambuja Cements</keyword>. After deliberations and approval of the Sebi's board, the regulator last week put in place a framework for introduction of the Beta version of T+0 settlement cycle on an optional basis from March 28. Sebi, in its effort to keep pace with the changing times and carry out its mandate of development of securities markets and investor protection, shortened the settlement cycle to T+3 from T+5 in 2002 and subsequently to T+2 in 2003. Under the new framework, all investors will be eligible to participate in the T+0 settlement cycle, if they are able to meet the timelines, process and risk requirements as prescribed by the market infrastructure institutions. Further, trade timing will be between 9.15 am and 1.30 pm. The surveillance measures as applicable in T+1 settlement cycle will be applicable to scrips in T+0 settlement cycle. T+0 prices will not be considered in index calculation and settlement price computation. There will be no separate close price for securities based on trading in T+0 segment.

T+0 trade settlement will be available for 25 scrips starting Thursday

<ul><li><keyword id="6374289" type="General" weightage="20" keywordseo="acc" source="Orion">ACC</keyword> acquired 55% stake in Asian Concretes and Cements Private along with its subsidiary Asian Fine Cements.</li><li>It had earlier held a 45% stake in the company before the deal.</li><li>The acquisition is fully funded through internal accruals.</li></ul>Adani group controlled ACC acquired the remaining 55% stake in Asian Concretes and Cements (ACCPL) from its promoter at an enterprise value of ₹775 crore. The EV includes cash &amp; cash equivalent of ₹35 crore. The ACC stock opened Monday in the red and had slipped 1.4% in trade at the time of publishing as compared to 0.4% slip seen on Nifty50. Asian Concretes and Cements’ subsidiary Asian Fine Cements is also a part of the acquisition. The subsidiary of <keyword id="6688113" type="General" weightage="20" keywordseo="ambuja" source="Orion">Ambuja</keyword> Cements had held a 45% stake in ACCPL before the deal. "With this acquisition, we are furthering our growth trajectory, enriching our portfolio, and continuing to accelerate our journey towards value creation for all our stakeholders,” said Ajay Kapur, WTD and CEO, ACC. ACCPL has 1.3 MTPA cement capacity in Nalagarh in Himachal Pradesh, while its subsidiary Asian Fine Cements (AFCPL) has 1.5 MTPA cement capacity in Rajpura, Punjab. Entire acquisition is funded through internal accruals and will help ACC &amp; its parent company Ambuja to further bolster market leadership in the lucrative North India market. While ACC has an existing tolling arrangement with the Nalagarh unit, Rajpura plant’s additional 1.5 MTPA capacity will strategically cater to a vast customer base across three states — Himachal Pradesh, Haryana, and Punjab. Notably, ACC and Ambuja Cements possess sufficient clinker to support the Rajpura plant, inclusive of its future expansions. This acquisition elevates Adani Group’s overall cement capacity to 77.4 MTPA. With ongoing and planned capex investments, the Adani Group's cement capacity is poised to reach 106 MTPA by FY26. The move also aligns with Adani’s Cement Business’ target to achieve 140 MTPA capacity by 2028.

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Adani Group to acquire CK Birla group firm Orient Cement at ₹8,100 crore valuation

BI India Bureau

Majority of Adani group stocks settle lower; Adani Power drops nearly 3%

PTI

Ultratech & India cements: Other high-profile M&As involving Indian companies

Prerna Tyagi

T+0 trade settlement will be available for 25 scrips starting Thursday

PTI

ACC falls 1.4% after acquiring Asian Concretes & Cements for ₹775 crore

BI India Bureau

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