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.