Ambuja Cements Shares Settle Lower Despite Adani Investment

New Delhi, Apr 18 (PTI) Shares of Ambuja Cements on Thursday pared all early gains and ended marginally lower amid profit-taking in line with weak trends in equities.

During the morning trade, shares of the company climbed nearly 4 per cent after billionaire Gautam Adani's family infused an additional Rs 8,339 crore in the firm to help the cement maker's manufacturing capacity.

The stock jumped 3.88 per cent to Rs 640.95 apiece -- its 52-week high -- during the day on the BSE. Later, it pared the gains and ended at Rs 616.30, lower by 0.11 per cent.

On the NSE, it climbed 3.27 per cent to Rs 637.80 per piece during the day. But, the stock failed to hold on to the gains and ended at Rs 615.25, down 0.37 per cent.

The 30-share BSE Sensex tanked 454.69 points or 0.62 per cent to settle at 72,488.99. The NSE Nifty declined 152.05 points or 0.69 per cent to 21,995.85.

Billionaire Gautam Adani's family infused an additional Rs 8,339 crore in Ambuja Cements, raising its stake in the company to 70.3 per cent, to help the cement maker's manufacturing capacity.

The Adani family previously invested Rs 5,000 crore in the company on October 18, 2022, and Rs 6,661 crore on March 28, 2024. With the latest investment, it has completed Rs 20,000 crore planned infusion, the company said in a statement on Wednesday.

"The promoters of the company - Adani family - have fully subscribed to the warrants programme in the company by further infusing Rs 8,339 crore, thereby infusing a total amount of Rs 20,000 crore," it said.

The latest infusion raises the Adani family stake in Ambuja Cement by 3.6 per cent to 70.3 per cent.