After tasting success in the airports and port business, Adani Group, the company of Gautam Adani, has now made a tremendous entry in the cement sector. Adani Enterprises, the flagship company of the Adani Group, told the stock exchange on Saturday that the Adani Group has set up a fully-owned company by the name of Adani Cement.
In a regulatory filing, Adani Enterprises said that Adani Capital has an authorized share capital of Rs 10 lakh in Adani Cement and a paid-up share capital of Rs 5 lakh. There are 50,000 equity shares in this new company with a face value of Rs 10.
Adani Cement is registered with Registrar of Companies, Gujarat on 11th June, Company has not commenced its business yet because of that it has no turnover as of now. Adani Enterprises said that Adani Cement will manufacture and sell all types of cement.
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Market experts say that Gautam Adami has entered the cement sector to take advantage of the increase in capital expenditure by the central government. Experts say that the company can rapidly acquire small cement companies like port and airport business.
In this sector, Adani Cement will compete with established companies like ACC Cement, Lafarge, JK Cement, JK Lakshmi Cement, Ambuja Cement. After the establishment of this company, the business of Adani Group will now expand from FMCG to airport and power transmission to cement business.
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The year 2021 has proved to be tremendous for businessman Gautam Adani. Shares of Adani Group companies have seen a strong rally in the year 2021, due to which Gautam Adani’s wealth has increased by more than $ 43 billion or about Rs 3.15 lakh crore this year and he has become the second richest person in Asia.
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According to Bloomberg, Gautam Adani’s net worth has exceeded $ 76.7 billion or Rs 5.60 lakh crore. Gautam Adani’s wealth has increased due to the sharp jump in the shares of his companies.
The stock of his company Adani Total Gas has climbed 330% this year. At the same time, the shares of Adani Enterprises have jumped 235% and the share of Adani Transmission has registered a rise of 263% so far.
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