Star Cement denies reports of acquisition talks with Adani Group
Star Cement on Wednesday dismissed reports suggesting that Adani Group’s Ambuja Cement is evaluating a potential acquisition of the company to expand its presence in the North East. The company labeled the claims as speculative and clarified that no such discussions are underway.
In a filing to the stock exchanges, Star Cement stated, “With reference to the news item that appeared in ‘Money Control,’ we hereby clarify that the above-mentioned news item is speculative, and the company is not engaged in any discussions in this regard.”
The company further emphasised its commitment to regulatory compliance, saying, “We have always made and will continue to make disclosures in compliance with our obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.”
Earlier, MoneyControl had reported that Ambuja Cement, a subsidiary of the Adani Group, was in talks to acquire Star Cement as part of its expansion strategy in the North East, where Star Cement holds a significant market share.
The clarification from Star Cement comes amid heightened scrutiny of merger and acquisition activities in India’s cement sector, following Adani Group’s increasing interest in strengthening its position in the industry.
Artificial Intelligence(AI)
AI-Powered Python Mastery with Tabnine: Boost Your Coding Skills
By — Metla Sudha Sekhar, IT Specialist and Developer
Astrology
Vastu Shastra Course
By — Sachenkumar Rai, Vastu Shashtri
Finance
AI and Generative AI for Finance
By — Hariom Tatsat, Vice President-
