BOM:500425

Market Chatter: Adani Group Reportedly Seeks $2.5 Billion to Refinance Ambuja Cements, ACC Debt

Adani Group is seeking $2.5 billion from global and domestic lenders to refinance debt used to acquire Ambuja Cements (NSE:AMBUJACEM, BOM:500425) and ACC (NSE:ACC, BOM:500410), Bloomberg News reported Wednesday, citing people familiar with the matter.Mauritius-based Endeavour Trade and Investment plans to raise $1.5 billion through an 18- to 24-month bridge loan, while Adani Infra (India) is targeting $1 billion through a five-year external commercial borrowing.The lenders expect to close the deal before the end of October. The group plans to refinance the bridge loan with rupee funding from domestic lenders, while a further $1 billion refinancing is planned for 2027.Adani Group did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Ambuja Cements' Consolidated Profit Jumps in Fiscal Q4; Shares Fall 3%

Ambuja Cements' (NSE:AMBUJACEM, BOM:500425) consolidated attributable profit increased to 18.3 billion Indian rupees in the fiscal fourth quarter from 10.3 billion rupees a year ago, according to a filing to the Indian stock exchanges on Monday.Shares of the cement manufacturer were down nearly 3% in Tuesday's trade.Earnings per share during the quarter ended March 31 climbed to 7.37 rupees from 4.16 rupees a year earlier.Revenue from operations in fiscal Q4 also rose year on year to 108.9 billion rupees from 98.9 billion rupees a year earlier.The company's board recommended a final dividend of 2 rupees per share for the financial year ended March 31. The dividend will be paid on or after July 1 to shareholders of record on June 12, the filing said.

Bondada Engineering Secures New Orders Worth INR1.25 Billion

Bondada Engineering (BOM:543971) has secured multiple orders totaling 1.25 billion Indian rupees for the supply of goods and on-site services for balance-of-system components for a 75 MW solar power project at Khavda in Gujarat, India.The orders have been received from Adani Green Energy (NSE:ADANIGREEN, BOM:541450), Adani Ports & SEZ (NSE:ADANIPORTS, BOM:532921), and Ambuja Cements (NSE:AMBUJACEM, BOM:500425).The contracts will be executed in three months.With this, the company's cumulative capacity executed for Adani Group has reached 725 MW.The company's shares were up over 1% in recent trade.

Nomura Adjusts Ambuja Cements' Price Target to INR540 from INR600, Keeps at Buy