ACC and Ambuja Cements remain resilient amid Adani rout; here is why

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February 3, 2023
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Shares of Ambuja Cements rose nearly 12 percent, in two straight sessions while most other Adani group stocks continued to crumble under pressure.

ACC and Ambuja have been listed entities for a much longer time and have an established history of greater transparency and performance, say experts

Shares of ACC and Ambuja Cements, the two cement companies that were acquired by the Adani Group in 2022, have showcased a much more resilient performance amid the ongoing rout in Adani Group stocks.

Shares of Ambuja rose nearly 12 percent, in two straight sessions while most other Adani group stocks continued to crumble under pressure. The rebound in the stock came after the 16 percent plunge witnessed on February 1.

A greater level of transparency in business, cashflows on their balance sheets and a history of resilient performance are some reasons pointed out by experts that may have safeguarded the two cement stocks.

ACC and Ambuja have been listed entities for a much longer time and have an established history of greater transparency and performance. So in such a scenario, the sentimental damage that has been seen for other Adani group companies has not hit them so hard, believes Vinit Bolinjkar, Head of Research, Ventura Securities.

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