Adani, UltraTech to ramp up cement production in India
India's cement scene is getting more competitive as Adani Group and UltraTech Cement both announced major production boosts.
UltraTech announced a plan to increase its capacity by 22.8 million tons per year, and Adani is following up with a plan to add 15 million tons by FY28.
After snapping up Holcim's Indian business, Adani has quickly become the country's second-largest cement maker and now wants to double output using debottlenecking, or optimizing existing operations.
Ambuja Cements reported a massive jump in profits
Ambuja Cements (part of the Adani family) reported a huge jump in profits this September—netting ₹1,387.55 crore, which is over twice last year's figure. Revenues also climbed 26%.
Investors noticed: Ambuja shares went up more than 2% on Monday morning after the news dropped.