Last Friday, huge fluctuations were seen in the stock market, and this turmoil also affected the shares of Adani Group. There was a big fall in the shares of the group’s cement company Sanghi Industries. On the last trading day of the week, the stock fell more than 7% to Rs 63, its lowest in the last 52 weeks. At the end of the day it closed at Rs 63.35, down 6.25%. It is worth noting that this share had touched the highest level of Rs 152 in January this year.
The trend of decline continues
Shares of Sanghi Industries are facing continuous decline. The recent decline started after the news related to the merger of the company. Adani Group had announced on Tuesday this week that it will merge its recently acquired Sanghi Industries and Penna Cement into Ambuja Cement. This step has been taken to integrate and strengthen the group’s cement business.
Underlining the importance of this merger, Ambuja Cement said that it will simplify the organizational structure and ease compliance processes to ensure better governance.
strategic strength of the group
This step is expected to greatly strengthen the cement business of Adani Group. Billionaire industrialist Gautam Adani’s cement unit is preparing to strengthen its position in the market by leveraging the combined capabilities of the acquired companies. This move will strengthen the group’s position against competitors like Aditya Birla Group’s UltraTech Cement.
shareholding pattern
Promoters hold 75% in Sanghi Industries, while public shareholders hold 25%. In the September quarter, the share of retail investors stood at 24.5%, which is similar to the level in the June quarter.
Message to investors
The fall in Sanghi Industries shares could be a temporary setback. However, Adani Group’s recent merger and business consolidation strategy could potentially prove beneficial for long-term investors.
