Ambuja Cements declared as the Preferred bidder for the Uskalvagu limestone block situated in Malkangiri District, Odisha

Ambuja Cements Limited, part of Adani Cement, has been declared as the 'Preferred bidder' for the Uskalvagu limestone block in an e-auction conducted by the Government of Odisha. The block is situated in Malkangiri District, Odisha over an area of ~547 Hectare with estimated limestone resource of ~141 million tonnes having average CaO content of 43.74%. The company shall get the statutory licenses and permits related to mining operations to be declared a 'successful bidder' and subsequently enter into a 'Mine Development and Production Agreement (MDPA)' with Government of Odisha to commence the mining operation.

Ambuja Cements Limited, part of the Adani Group, is among India's leading cement companies. Ambuja, with its subsidiary ACC Ltd. has a capacity of 67.5 million tonnes with fourteen integrated cement manufacturing plants and sixteen cement grinding units across the country. Ambuja Cements is pleased to have been a part of this process and looks forward to this valuable partnership with the Government of Odisha in the overall development of the state. As the most trusted cement brand in India, the Company's sustainable operations and initiatives is a testament of its philosophy of contributing to the larger good of the society.

Shares of Ambuja Cements Limited was last trading in BSE at Rs. 344.60 as compared to the previous close of Rs. 336.65. The total number of shares traded during the day was 1048495 in over 19162 trades.

The stock hit an intraday high of Rs. 350.80 and intraday low of 335.05. The net turnover during the day was Rs. 361401670.00.

Source : Equity Bulls

Keywords

AmbujaCements INE079A01024 PreferredBidder UskalvaguLimestoneBlock eAuction Odisha