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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The two cement companies will see changes in their senior management and a shift in strategy as an aggressive Adani looks to close the gap with industry leader UltraTech.
Editor's note: Once the customary open offer for Ambuja Cements and ACC shares comes to a close on Friday, Gautam Adani is set to effect multiple changes, including in the senior leadership, at the two cement companies that his Adani group bought from Swiss major Holcim in a $10 billion acquisition in May. Three executives from the industry, with direct knowledge of the matter and on condition of anonymity, told The Morning Context that Neeraj Akhoury, managing director and chief executive officer of Ambuja Cements, had already put in his papers. While chief financial officer Rajani Kesari may also be on her way out, her counterpart at ACC, Yatin Malhotra’s resignation was recently announced by the company. “ACC’s HR head, Bhogendra Mishra, who is also the functional head for Holcim in Asia, is also going. It’s not just a coincidence that most of those who are leaving had come from the Holcim group,” says one of the three executives. Holcim had bought Ambuja Cements and ACC in 2006, its ownership marked by the two Indian companies going slow on expansion and ceding …
After a strong listing, Vedanta Aluminium Metal is running into some headwinds. Aluminium prices are easing, but the sharper challenge is rising competition from Kumar Mangalam Birla and Gautam Adani.
A proposed SEC settlement lifts the biggest overhang on the Adani Group—its access to US capital markets.
The Adani group plans to spend Rs 1 lakh crore over the next five years to develop its airport business. While everything—including the funding—is sorted, a prolonged war could disturb the math.
