Adani Group becomes the second largest cement company in the country

Adani Group becomes the second largest cement company in the country

Daily Current Affairs   /   Adani Group becomes the second largest cement company in the country

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Category : Business and economics Published on: September 20 2022

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  • Adani Group became the second-largest cement company in the country after it finalised the acquisition of Ambuja Cements and ACC Limited.
  • Ultratech Cement is the largest player with a market valuation of over Rs 1.87 lakh crore.
  • The acquisition of Ambuja Cements and ACC is the largest acquisition ever by the Adani Group, and India’s largest ever in the infrastructure and materials space.
  • Gautam Adani on Friday briefly overtook Amazon’s Jeff Bezos to become the world’s second-richest person, according to the Bloomberg Billionaires Index.
  • Adani’s net worth touched $155 billion (over Rs 12.3 lakh crore) and was trailing after Tesla founder Elon Musk, who has a net worth of $264 billion (over Rs 21.4 lakh crore), according to Bloomberg.
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