The company will carry on business as manufacturers, producers, processors of all types of cements.
In its filing, it was mentioned that Adani Cement Industries' turnover is nil as it's yet to commence business operations.
A rally in the stocks of companies
controlled by Gautam Adani
has added almost $43 billion to his wealth this year, catapulting him to the spot of the second-richest person in Asia.
Adani’s net worth of $76.7 billion got a boost from a 330% jump in Adani Total Gas Ltd., a 235% rise in his conglomerate’s flagship Adani Enterprises
Ltd. and a 263% increase in Adani Transmission Ltd. this year.
Elara India Opportunities Fund, Apms Investment Fund, Cresta Fund, Albula Investment Fund, Lts Investment and Asia Investment Corp. have put more than 95% of their assets in Adani group firms, according to data compiled by Bloomberg Intelligence.
The ports-to-power conglomerate also got a boost after MSCI Inc. included three more Adani firms to its India benchmark index last month, taking the group’s total footprint to five. This leads to mandated buying by investors that track this index.
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