Ambuja Cements, RailTel Corporation of India and Titan Company to see some action today

Billionaire Gautam Adani has won the race to acquire Swiss cement major Holcim's stake in Ambuja Cements and its subsidiary ACC for $10.5 billion (around Rs 81,361 crore), including the open offers. The Adani family, through an offshore special-purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Holcim’s entire stake in two of India’s leading cement companies -- Ambuja Cements and ACC. Holcim owns 63.19 per cent in Ambuja Cement and 4.48 per cent in ACC. Ambuja Cement, in turn, owns 50.05 per cent in ACC. The Adani family will make an open offer to buy 26 per cent in these two companies from non-promoter shareholders, as per market regulator, the Sebi's norms.

RailTel Corporation of India has received work order from Centre for Development of Advanced Computing for providing MPLS and Internet bandwidth for Implementation of CCTV Surveillance System at a total cost of Rs. 220.55 Crore (Including GST).

Titan Company is aiming at a growth of 2.5 times in its flagship jewellery business in the next five years. It plans to add over 600 stores across 300 cities in the next three years. The company has the ambition of its fashion jewellery Mia by Tanishq brand to clock over Rs 2,000-crore sales by FY25 from Rs 290 crore in FY22. It also plans to double Mia's points of sale to 550 by FY25 from 275 at present. It is targeting to increase the customer base of its crafted jewellery business Zoya by four times by FY25 as luxury is expected to explode in India. In addition to that the company also aims to register over Rs 2,500 crore sales from international markets becoming ‘the brand of choice for the Indian diaspora’ in north America and West Asia by FY27.

Maruti Suzuki India has completed the process of allotment of an 800 acres site at IMT Kharkhoda in District Sonipat with HSIIDC (Haryana State Industrial and Infrastructure Development Corporation). The company has been in discussion with the Government of Haryana for investment in a new manufacturing site for its proposed capacity expansion. The first plant with a manufacturing capacity of 250,000 vehicles per annum is expected to be commissioned within the year 2025 subject to administrative approvals. In the first phase, the investment would be over Rs 11,000 crore. The site will have space for capacity expansion to include more manufacturing plants in the future.

INOX Leisure has commenced the Commercial Operations of a Multiplex Cinema Theatre taken on Lease basis, located at 4th Floor, Orchid Mall, Station Main Road, Kalaburagi - 585105, Karnataka. The said Multiplex Cinema Theatre has 4 screens and 794 seats. INOX is now present in 73 cities with 163 Multiplexes, 692 screens and a total seating capacity of 1,55,218 seats across India.

Rites has secured a consultancy & supervision work for Construction of the East Bank-East Coast Road Linkage Project (Ogle to Eccles (Haags Bosch)) - Phase-1 from the Ministry of Public Works, Guyana for a fee of $3,204,420. 

Grindwell Norton has executed Share Purchase agreement (SPA) with shareholders of PRS Permacel (PRS Permacel) on May 12, 2022, for the acquisition of 100% equity shares of the PRS Permacel. The acquisition will be completed on fulfillment of closing conditions. Post-acquisition, PRS Permacel will become a 100% subsidiary of the company.