Having put its plans for acquisitions on the backburner, IndiaN cement major Gujarat Ambuja Cements Ltd will instead invest Rs1000 crore in new plants and capacity expansions, for which a strategy would be drawn up soon.
"In this market, all sellers will be asking for the moon. There’s no point forking out huge amounts for future cash flows," sources at GACL said, explaining why acquisitions are not likely in the near term.
