Gautam Adani Hails Ambuja, ACC Companies As Champions of Environmental Sustainability
Adani Group Chairman, Gautam Adani, claimed on Thursday that 90% of the cement produced by Ambuja and ACC is blended cement, which is environmentally friendly and is produced with waste materials such as recycled fly ash and slag. Adani dubbed the move revolutionary as it employs fewer raw materials and energy, and the cement produced tends to have less environmental impact.
Moreover, the billionaire industrialist emphasized his commitment to reduce the use of fossil fuels by harnessing renewable energy sources such as solar and wind to power factories on his X post. The company holds the leading position in sustainability with an aim of 60% renewable energy utilization by 2022, Adani claimed.
Ambuja & ACC are leading a sustainable revolution in the cement industry. Over 90% of our cement production is now blended cements recycling waste fly ash and slag. This significant shift not only enhances the environmental footprint of our cement but also marks a substantial… pic.twitter.com/IujsnLhIfG
— Gautam Adani (@gautam_adani) December 7, 2023
Adani Group acquired 63.19 stakes in Ambuja Cements from Holcim in September 2022. As Ambuja holds a 50% stake in ACC, ACC also became part of the Adani Group. Ambuja and ACC shares had climbed along with other Adani group stocks after US International Development Finance Corp.’s (DFC’s) termed the accusations by Hindenburg Research against the conglomerate to be irrelevant.
Ambuja Cement shares currently trade at Rs. 502.40. Among the 34 analysts who have coverage on Ambuja cement stocks, 16 have a buy call, while 6 analysts recommend holding the stock, and 5 have a “sell” call.
ACC Ltd. shares currently trade at Rs. 2137.45 with 20 analysts who have coverage on stocks recommend it for investing, while 3 made a “hold” call and 3 made a “sell” call.
