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Ambuja Cements shares climb nearly 4 %; hit 52-week high on BSE

The rise is a result of billionaire Gautam Adani's family infusing an additional Rs 8,339 crore in the firm to help the cement maker's manufacturing capacity.
Last Updated : 18 April 2024, 09:09 IST
Last Updated : 18 April 2024, 09:09 IST

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New Delhi: Shares of Ambuja Cements on Thursday 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 -- its 52-week high -- on the BSE.

At the NSE, it climbed 3.27 per cent to Rs 637.80 apiece.

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 program 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.

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Published 18 April 2024, 09:09 IST

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