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jobs frequently, every two to three years. Graves, who has expanded his company to over 800 locations, values loyalty and teamwork in his employees and sees short job tenures as a sign of potential issues with commitment and team orientation.

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Adani Cement «achieve targeted growth ahead of time», said Adani Group Cement Business CEO Ajay Kapur in an investors' call on Monday. The Adani group, which had last week announced the acquisition of Orient Cement, aims to have a manufacturing capacity of 140 million tonnes per annum (MTPA) by FY28. «Adani Cement will benefit from accelerated growth, lower costs and good synergies, all of which will contribute to leading the market and achieving sustainable performance in the near future. The pace of capex has increased, which will help to achieve targeted growth ahead of time,» said Kapur. Ambuja Cement, part of Adani Group, which houses all cement assets, is a debt-free company and as of September 2024, cash and cash equivalent for the company was at Rs 10,135 crore, said Kapur.

Subscribe to enjoy similar stories. The Adani Group is in advanced discussions with the Odisha government to build its first greenfield cement factory, two years after embarking on its cement odyssey with a series of acquisitions. Group company Ambuja Cements Ltd is likely to build the 4 million tonnes per annum (mtpa) unit at a cost of ₹3,000-3,500 crore, said two people aware of the matter, including a government official.

NMDC Ltd.(up 0.92%) stood among the top gainers.

Subscribe to enjoy similar stories. Ambuja Cements' acquisition of a 46.8% stake in Orient Cement for ₹395.4 per share has sparked debate about whether the company is paying a premium in a competitive market. As consolidation gains pace across the cement sector, Ambuja is expanding capacity despite lofty valuations and soft earnings weighing on the industry’s short-term outlook.

«And with this acquisition of India Cements by UltraTech and now Orient by Ambuja Cement, it is getting to the levels where the other regions are. So, very positive for the southern cement companies and also on India Cements,» says Rakesh Arora, Go India Stocks Just talking about now this value at 10,400 crores, given that it has now the third largest position in the South, what do you make of this further consolidation within the cement sector? Rakesh Arora: You have two large players who are trying to gain market share and consolidation has been going on pretty strongly. And I think this is the right step for the industry, especially South India has been highly fragmented. In other regions, the top five players have 80% capacity share. In South India, it was closer to 50%. And with this acquisition of India Cements by UltraTech and now Orient by Ambuja Cement, it is getting to the levels where the other regions are. So, very positive for the southern cement companies and also on India Cements.

Ambuja Cement on Tuesday announced that it will acquire Orient Cement Ltd (OCL) at an equity value of Rs 8,100 crore. Additionally, the cement giant make an open offer to acquire additional 26% stake. «Within 3-4 months, the Open Offer shall be completed in accordance with the provisions of the SAST (Substantial Acquisition of Shares and Takeovers) Regulations. The Open Offer is being made at Rs 395.40 per equity share, which has been determined in accordance with SAST Regulations,» informed the company through stock exchange filing. Shares of both the involved cement players were trading in the green after the announcement of acquisition deal. Ambuja's shares went up 1.49% at Rs 580 while shares of Orient Cement were trading at Rs 358.25, up 1.65% as of 9:20 am.

Oriental Trimex Ltd.(up 4.97%), 20 Microns Ltd.(up 2.06%) and Ashapura Minechem Ltd.(up 0.37%) stood among the top gainers.

Rakshit Ranjan of Marcellus Investment Managers says markets have run ahead of fundamentals and hence, if one wants to pick up stocks where upside from positive surprises can come, it requires a lot of bottom-up picking rather than any top-down or broader sectoral calls. Further, Marcellus used to have a far greater exposure to specialty chemicals space in some of their funds until about a year, year-and-a-half ago. It is relatively low now. There are some companies in their small and midcap portfolios where supply side issues are much less worrisome now as compared to about six months ago. These are more B2B and export-oriented chemical companies. What are the expectations with respect to earnings because a large part of the Street believes that we had run up ahead of fundamentals and now earnings have peaked and there are chances of more downgrades than upgrades? Rakshit Ranjan: I agree with your broad assessment. There are two types of challenges at the moment in the stock markets that investors should be aware of. One is earnings are going to be adversely affected by weak external macro and hence, a lot of bottom-up stock picking to ensure you pick up only those companies where earnings growth is coming through despite weak macro is required.

Lexus Granito(India)Ltd.(up 2.64%), 20 Microns Ltd.(up 0.51%), The Orissa Minerals Development Company Ltd.(up 0.44%) and Aro Granite Industries Ltd.(up 0.08%) were among the top gainers.

The European Union’s top court has said that social media company Meta can’t use public information about a user’s sexual orientation obtained outside its platforms for personalized advertising under the bloc’s strict data privacy rules

credit ratio, or the proportion of upgrades to downgrades, indicating an improvement in Indian firms' credit quality. But they warn of some concerns like rise in unsecured lending and household debt, and stress in export oriented sectors.

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Coal India Ltd.(up 1.89%), Ashapura Minechem Ltd.(up 1.11%), MOIL Ltd.(up 0.39%) and NMDC Ltd.(up 0.38%) stood among the top gainers.

Pokarna Ltd.(up 1.56%), Madhav Marbles & Granites Ltd.(up 0.54%), Aro Granite Industries Ltd.(up 0.32%) and Ashapura Minechem Ltd.(up 0.02%) were among the top gainers.

Subscribe to enjoy similar stories. At one time, it seemed as if the Quad grouping of India, Japan, Australia and the US, while focused on the cause of a free and open Indo-Pacific, was chiefly about containing China militarily, given Beijing’s thinly veiled ambition of establishing its influence over the region and possibly unsettling the US-led world order.

Winter season will be here in no time and therefore, this is the best time to get your hands on an efficient geyser. In today’s article, we have curated a list of the 10 best Orient electric geysers which come equipped with LED indicators, copper heating elements and a coated tank that lasts for an extended period of time.

AUM has hit an all-time high of Rs 66.70 lakh crore, led by net inflows across open-ended categories and mark-to-market (MTM) gains in the equity market. The industry AUM rose by 2.7% or Rs 1.74 lakh crore in absolute terms from Rs 64.97 lakh crore in July, according to a monthly note by the Association of Mutual Funds in India (AMFI). The assets under management of growth/equity oriented schemes closed at an all-time high of Rs 30.09 lakh crore led by strong inflows and MTM gains. This is around 45% of industry AUM.

Oriental Trimex Ltd.(up 4.73%), Pokarna Ltd.(up 1.39%), MOIL Ltd.(up 1.32%), KIOCL Ltd.(up 1.14%), Gujarat Mineral Development Corporation Ltd.(up 0.61%), Lexus Granito(India)Ltd.(up 0.39%) and The Orissa Minerals Development Company Ltd.(up 0.17%) stood among the top gainers.

mutual funds have ruled the return chart in August. Mutual funds based on three defensives — pharma & healthcare, technology, and consumption — offered an average returns of 6.33%, 4.75%, and 2.97% respectively in the said period. Around 14 pharma & healthcare sector based mutual funds have been there in the said period. WOC Pharma and Healthcare Fund offered the highest return of around 9.37%, followed by UTI Healthcare Fund which gave 7.08% return in the same time period. Quant Healthcare Fund offered the lowest return of 5% in a similar time frame.