Adani Group is preparing to enter the new sector. This group will now enter the cement sector. It is already there in sectors like ports, airports. In this way the company has chosen another sector to become the infra king. Shares of Adani Enterprises closed at Rs 1,601 with marginal gains on Friday.
In the information given to the stock exchanges, the company has said that Adani Enterprises will work in the cement sector. The company has formed a subsidiary called Adani Cement under the banner of Adani Enterprises. It will have an authorized share capital of Rs 10 lakh and a pet-up capital of Rs 5 lakh. The new company has no turnover as of now and will be headquartered in Gujarat.
In fact, the cement sector has an important role in the country's infrastructure. It will see more momentum in the coming days. The reason is that the government is spending a lot on infra. The government is doing all the infra works including the Pradhan Mantri Awas Yojana. In such a situation, Adani Group is focusing on this cement sector. Analysts are already bullish on the cement sector.
Recently Ridham Desai of Morgan Stanley said that cement stocks are better than metal. This is the sector promoting the domestic sector. In the coming two years, this sector can see a good breakout in volumes. The Adani Group entered another new sector this year. Adani Enterprises has formed a company by the name of Adani Copper which will work to meet the demand of Copper.
According to the information, Adani Group will go ahead by buying cement companies in the initial phase. Because it controls the country's port and airport business well. Adani Group's owner Gautam Adani is known for similar business. In the first 6 months of this year, his wealth has increased by $ 43 billion. His wealth has grown the fastest in the world this year. There are total 6 companies of this group which are listed in the stock market. Their total market cap is more than Rs 8.50 lakh crore.
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