Adani Cement Business: Gautam Adani is making big changes in his business. Especially big changes are happening in the cement business. Under this, two big companies have merged with Ambuja Cement, a cement company owned by the Adani Group. Sanghi Industries and Penna Cement have merged with Gautam Adani's cement company Ambuja Cement. After this merger, Sanghi Cement shares were trading at Rs 77.  

Ambuja Cement Sanghi Industries

Adani Group on Tuesday said it will merge the recently acquired Sanghi Industries and Penna Cement with Ambuja Cement. The group is taking this step to integrate the cement business into one entity. Ambuja Cement on Tuesday announced separate plans to merge its subsidiaries Saurashtra-based Sanghi Industries (SIL) and Andhra Pradesh-based Penna Cement Industries Ltd (PCIL). The country's second largest cement manufacturer said in a statement, this integration will help streamline the organization structure and simplify compliance requirements for effective governance. 

Why was the decision taken to merge 

This will also help billionaire businessman Gautam Adani's cement unit to leverage the combined strength of the acquired units. The group is competing with market leader Aditya Birla Group firm UltraTech Cement in this sector. Ambuja Cement's board approved the plan to merge with Sanghi Industries and Penna Cement Industries in a meeting held on Tuesday.